Prio nabs Dommo

Prio nabs Dommo

Corporate & Sovereign Strategy Equity M&A Brazil Capital Markets Gas Oil

Brazilian oil and natural gas company Prio said it agreed to acquire competitor Dommo Energia from Brazilian investment firm Prisma Capital for between BRL694 million ($133.5 million) and BRL942 million. Prio will either pay BRL1.85 per share of Dommo or will swap one share of Dommo for 0.05 shares of Prio, the company said in a securities filing. “Prio offers a story of capturing the right opportunities at the right time, with the right people," BTG Pactual equity analysts said in a report. "We

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