Boston, MA -- (SBWIRE) -- 07/19/2012 -- HRT Participacoes em Petroleo SA (HRT), an oil and gas company, intends to sell an equity interest in 12 exploration blocks together covering an area of 68,800 sq. km, in Namibia. The company intends to use the proceeds from the sale to fund its exploration activities. Citigroup Global Capital Markets Inc. is acting as financial advisor to HRT in the transaction. Wagner Peres, president of unit HRT America, said, "Rio de Janeiro-based HRT plans to maintain a majority stake in the blocks where it plans to sell a stake." The transaction is expected to be completed in June 2012.
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- Rationale behind HRT selling its oil and gas assets in Namibia: To fund for its exploration activities from its sale proceeds. Geography covered-Namibia
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- To get an understanding of the major M&A deals in the oil and gas industry, to make better decisions about the investments which should be made.
- The deal rationale clearly states that the deal is being made to fund exploration activities, which also gives details about the Namibian assets.
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