Kuwait, 02nd May 2012: Ernst & Young organized an executive workshop on acquisition transactions in the oil and gas sector at JW Marriott, Kuwait, which was attended by senior oil & gas executives in Kuwait.
Participants were provided with insights into the transaction process relating to identification and evaluation of investment and acquisition opportunities in the oil and gas sector, with particular focus on due diligence and valuation of acquisition targets as well as post transaction integration. Ernst & Young presented global case studies based on leading practices in the oil & gas sector, drawing on the organisation's global oil and gas practice of 9,200 professionals.
Key Ernst & Young executives who presented at the workshop included Andy Brogan, Global Lead, Oil & Gas Transactions; Jon Clark, Lead, Oil & Gas Transactions, Europe, Middle East, India and Africa (EMEIA); and Chris Boyett, Lead, Oil & Gas Transactions, Middle East and North Africa.
Varun Dev Sharma, Leader, Transaction Advisory Services, Ernst & Young Kuwait said: "The oil and gas sector is constantly changing. Increasingly uncertain energy policies, geopolitical complexities, cost management and climate change all present significant challenges. However, at the same time acquisitions are considered an important means to achieving growth, and Ernst & Young's Global Oil & Gas Center predicts a robust level of M&A transaction activity in 2012. With more players actively researching and pursuing investment opportunities, a sound acquisition strategy must be in place to prevent overpaying for assets. A well defined process, incorporating rigorous evaluation and supported by robust due diligence of prospective targets, allows the execution of strategy in a manner which creates value and optimizes capital."
Anil Menon, Partner, Transaction Advisory Services, Ernst & Young Kuwait, said: "Both private and public sector players are increasingly looking at investing or increasing their footprint in the oil & gas sector. While competition for good assets is increasing and can push prices up, the transaction environment is becoming more complex and requires more rigorous evaluation of opportunities than ever before. Strategic and financial investors therefore need to constantly update their mergers and acquisitions processes so that they minimize risk."
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The Middle East and North Africa practice of Ernst & Young has been operating in the region since 1923. For over 88 years, we have evolved to meet the legal and commercial developments of the region. Across the region, we have over 4,200 people united across 20 offices and 15 Arab countries, sharing the same values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
About Ernst & Young
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Contact name: Lamice Murshid
Company: Ernst & Young
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E-mail: lamice.murshid@ae.ey.com
Contact name: Sandeep Sharma
Company: Weber Shandwick MENA
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E-mail: sandeep.sharma@ws-mena.com
© Press Release 2012
