NEW YORK, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Brooge Energy Ltd, (“Brooge Energy” or the “Company”) (NASDAQ: BROG), a Cayman Islands-based infrastructure provider, which is currently engaged in clean petroleum products and biofuels and crude oil storage and related services, announced today that it has engaged the services of Freshfields Bruckhaus Deringer (“Freshfields”), a renowned global law firm, as its legal advisor to advise on the acquisition transaction proposed by Gulf Navigation Holding PJSC (“GULFNAV”).
The announcement comes following GULFNAV's proposal to acquire all of the businesses and assets of Brooge Energy Limited, which was publicly disclosed in a press release on October 3, 2023.
Freshfields, with its unrivalled cross-border expertise and leading public M&A practice, make them an ideal partner for guiding the Company through the complexities of this proposed transaction. Freshfields frequently acts on the most challenging and complex global client mandates. As a top-ranked law firm in the jurisdictions that matter most for the transaction, the UAE and the US, Freshfields is well-positioned to provide expert legal guidance throughout the proposed acquisition process.
"We are excited to have Freshfields on board as our legal advisor for this proposed transaction with GULFNAV, the vast experience and global reach of Freshfields will be invaluable in ensuring that the proposed acquisition process proceeds smoothly and efficiently," said Paul Ditchburn the Chief Financial Officer and Chair to the Office of the Chief Executive Officer of Brooge Energy.
About Brooge Energy Limited
Brooge Energy Ltd, is a Cayman Islands-based infrastructure provider now intending to focus on renewable energy infrastructures and biofuels, next to clean petroleum products, crude oil storage and related services. The company conducts its business and operations through its subsidiaries Brooge Renewable Energy (BRE), Brooge Petroleum and Gas Investment Company FZE (BPGIC), and Brooge Petroleum and Gas Investment Company Phase 3 FZE. BPGIC, the Company’s primary operating subsidiary that focuses on midstream oil storage and other services, is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. The Company differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses. For more information, please visit www.broogeenergy.com.
Forward-Looking Statements
This press release contains statements that are not historical facts, including the Company’s anticipated shift towards green energy and targeted production at BRE’s planned Green Hydrogen and Green Ammonia plant and constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including availability of labor and other resources needed to for completion of the new plant, timing of obtaining regulatory approvals needed with respect to the new facility, the Company’s ability to complete construction and initiate operations of the new facility on the anticipated timeline or at all, the Company’s ability to maintain the lease for the new facility, and other risks described in public reports filed by Brooge Energy with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Brooge Energy does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact
KCSA Strategic Communications
Valter Pinto, Managing Director
+1 212-896-1254
BROG@kcsa.com
