By Kevin McCauley
Finsbury is guiding the energy comeback of former BP CEO Tony Hayward, who today registered a $1.6B public offering for his Vallares investment vehicle on the London Stock Exchange.
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Vallares intends to focus in investments in the oil and gas sector in "emerging and under-developed" areas that include Russia, former Soviet Union states, Africa, Middle East, Asia and Latin America, according to the filing.
It sees opportunity driven by a big increase in energy demand due to "global industrialization and urbanization." At the same time, Vallares believes energy supply will be constrained by "insufficient investment" and "exploration and development challenges."
The company expects to succeed partly due to Hayward and co-founder Nathaniel Rothschild's global network of relationships with key decision-makers and owners of potential acquisition targets.
"We will have the cash, access to funds and the capability to unlock value where the current owners have neither the capital nor technical expertise to develop the assets," Hayward said in a statement.
Finsbury is part of WPP. Its sister firm, Ogilvy PR, works for BP.
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