Addleshaw Goddard advises Shore Capital on financing of recommended takeover offer for Pharos Energy

Addleshaw Goddard has advised Shore Capital, the financial adviser to Tel Aviv Stock Exchange listed Ratio Petroleum Energy LP, on the financing aspects of Ratio Petroleum’s recommended all-cash takeover offer for Pharos Energy plc, the London Stock Exchange Main Market-listed independent oil and gas producer.

The offer, announced on 24 June 2026, is expected to be implemented by way of a scheme of arrangement, and is conditional, amongst other things, on Pharos shareholder approval. The transaction terms value Pharos’s total issued and to be issued share capital at approximately £124m. Pharos operates a portfolio of production and exploration assets in Vietnam and Egypt.

The Addleshaw Goddard team was led by Giles Distin and included, amongst others, Corporate Finance Partner, Louise Pritchard.