Tamboran Secures US Approval for Falcon Acquisition Amid Sanctions
Tamboran's acquisition of Falcon Oil & Gas is set to proceed following US approval, despite complications from sanctioned shareholder Viktor Vekselberg. The deal involves a payment exceeding $23 million to Vekselberg and values the transaction at approximately €134 million.
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Tamboran, an Australian natural gas company, has received a license from the US Office of Foreign Assets Control to finalize its acquisition of Falcon Oil & Gas, valued at around €134 million. This approval allows for a payment of more than $23 million to Viktor Vekselberg, a sanctioned Russian oligarch, who holds shares in Falcon.
The presence of Vekselberg has posed legal challenges throughout the transaction. Successful completion of this deal could enhance Tamboran's operational capabilities in the Irish market, although ongoing geopolitical risks related to sanctions may impact future investments.
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