Deals of the Year: Deutsche Bank
Deutsche Bank advises for Premier Oil acquisition of ONSL
In March 2009, at the height of the financial crisis, global oil & gas corporation Premier Oil successfully acquired troubled oil production firm Oilexco North Sea Limited (ONSL) for $505 million. Deutsche Bank acted as sole financial adviser, joint corporate broker and joint sponsor to Premier Oil over the auction period.
ONSL had been active in oil exploration activities in the North Sea for a number of years, but ran into trouble last year. The firm’s unusual business model was the focus for
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