 |
Kekst CNC is handling the $1.9B merger of Desert Peak Minerals and Falcon Minerals to create a company with an extensive footprint in Texas’ petroleum-rich Permian Basin.
Desert Peak shareholders will control 73 percent of the combined company that will be headquartered in Denver. It will produce 13,500 to 14,500 barrels of oil equivalents over the course of the first half of 2022. About three-quarters of that output will flow from the Permian Basin.
Chris Conoscenti, CEO of Desert Peak, said the merger creates a leading public minerals company with a strong growth trajectory.
His goal is to be the leading consolidator of high-quality Permian Basin assets.
Kimmeridge, a private investment firm, launched Desert Peak. Blackstone controls a 40.6 percent stake in Falcon.
Kekst CNC has Daniel Yunger, Hallie Wolff and Emma Cloyd repping Desert Peak.
Joele Frank represents Philadelphia-based Axalta Coating Systems as it agrees to merge with Amsterdam’s AkzoNobel in a deal valued in the $25B range.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
