Lionheart Signs $400 Million Letter of Intent for Venezuelan Oil Stake With Keo Capital
Miami-based Lionheart Capital signed a non-binding letter of intent to invest $400 million for a stake in a Venezuelan oil field. The firm will form a joint venture with Swedish partner Keo Capital AB, which holds a stake in PetroUrdaneta, and the new company will trade on the Nasdaq.
The transaction marks one of the first major private investments in Venezuela’s oil industry following the United States decision to ease sanctions. The parties are finalizing negotiations and plan to execute a definitive agreement by Aug. 17.
From the sources (4 posts)
@staunovoOne of America’s most successful “wildcatters” is poised to explore for oil in #Venezuela after agreeing a draft deal with the country’s authorities and buying seismic data to gain a head start on rivals. “It has dreamland geology and a gi
@staunovoLionheart Capital is close to a $400 million deal for a stake in a Venezuelan oil field, in what would be one of the first major private investments in the country’s oil industry since the US began easing sanctions. Miami-based Lionheart s
@bloomberglinea_Lionheart está a punto de cerrar una de las primeras inversiones privadas más importantes en la industria petrolera de Venezuela desde que EE.UU. comenzó a flexibilizar las sanciones.
@businessLionheart is close to what would be one of the first major private investments in the country’s oil industry since the US began easing sanctions