Acquisition: Sunda Energy Plc

Sunda Energy Plc has entered into a conditional agreement to acquire Matahio Energy NZ Limited.

Sunda Energy Plc (Sunda) has announced it has signed a share sale and purchase agreement for the acquisition of Matahio Energy NZ Limited (Matahio NZ) and its two subsidiaries for a value of up to NZD27.0 million, conditional on the New Zealand government’s approval.

Matahio NZ owns and operates, through its subsidiary companies, 100% of a group of production and exploration permits located within the onshore area of the Taranaki Basin on the west coast of New Zealand’s North Island.

Sunda is an AIM-listed energy operating company based in the UK, and focused on exploration, appraisal and early development of oil and gas assets in the Asia-Pacific region. The acquisition diversifies Sunda’s existing portfolio of exploration and evaluation assets held in Timor-Leste and the Philippines.

Crowe's role and team

Crowe provided financial and tax due diligence. Paul Blythe led the UK Corporate Finance team with support from George Lawford, James Leyton and George Ing. The Crowe New Zealand tax team was led by Greg James.

Client quote

"The Crowe UK and New Zealand teams provided clear, practical financial and tax due diligence throughout and were consistently responsive. Their support helped us progress the proposed acquisition efficiently and with confidence."

Rob Collins, Chief Financial Officer, Sunda Energy Plc

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