Pinsent Masons advised the Prax Group, a British multinational independent refining, storage, distribution and sales conglomerate dealing in crude oil, petroleum products and bio-fuels (“Prax”), in respect of its £249 milllion takeover by Prax Exploration & Production plc of the entire issued and to be issued share capital of AIM listed exploration and production company, Hurricane Energy plc (“Hurricane”). The acquisition, which was governed by the UK Takeover Code, was implemented by way of scheme of arrangement.

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