Sintana Energy has completed the acquisition of Challenger
December 2025 — Sintana Energy Inc. (TSXV: SEI) (OTCQX: SEUSF) has officially completed the acquisition of Challenger Energy Group plc (LON: CEG) (OTCQB:BSHPF) following the effective date of a court-sanctioned scheme of arrangement.
Sintana Energy is engaged in petroleum and natural gas exploration and development activities across five large, highly prospective onshore and offshore petroleum exploration licenses in Namibia, as well as in Colombia’s Magdalena Basin. The company’s exploration strategy focuses on acquiring, exploring, developing and producing high-quality assets with substantial value-added potential.
Challenger is an oil and gas exploration company publicly listed on the AIM market of the London Stock Exchange (AIM). The company is focused on offshore Uruguay, holding interests in two blocks: AREA OFF-1, with a 40% working interest alongside Chevron, which holds a 60% working interest and acts as operator; and AREA OFF-3, where Challenger holds a 100% working interest and serves as operator. Challenger is the only junior company with a significant offshore position in Uruguay and the wider region, as well as holding legacy assets in The Bahamas.
Our role in the transaction
Oaklins Cavendish, one of Oaklins’ member firms in the UK, acted as the financial advisor to Sintana Energy Inc. on its recommended all-share acquisition of Challenger Energy Group plc, which has now been approved. The team is also acting as broker to Sintana in connection with its proposed admission to AIM, with dealings in Sintana’s shares expected to commence on or around 23 December 2025.
Talk to the deal team
Neil McDonald
Oaklins Cavendish
Related deals
ENGIE Énergie Services has sold Majorelle to Isospace
Majorelle, a pioneer in space planning in France for 40 years, has been sold to Isospace by ENGIE Énergie Services. The transaction marks a new chapter in Majorelle’s growth, bringing together complementary expertise in workplace design, space planning and fit-out while preserving its brand, teams and market positioning. Together, Majorelle and Isospace generate more than US$45 million in revenue, primarily in the Île-de-France region. The companies operate in a commercial fit-out market undergoing significant transformation, driven by evolving workplace needs, real estate asset repositioning, regulatory requirements and environmental and socioeconomic challenges. Philippe Savajols, president of Isospace and Majorelle, aims to ensure continuity for Majorelle and its teams while developing complementary capabilities and synergies across the group, preserving both companies’ respective cultures, expertise and client relationships.
Learn moreITC has been acquired by Re-Pie Portfoy Yonetimi
ITC, Türkiye’s leading integrated waste management and waste-to-energy platform, has been acquired by Re-Pie Portföy Yönetimi AS, one of Türkiye’s leading alternative asset management firms. The transaction provides Re-Pie with a scaled platform at the intersection of waste management, renewable energy and environmental services, while supporting ITC in the next stage of its development and long-term growth.
Learn moreFincantieri has acquired a majority stake in Next Geosolutions Europe
Fincantieri S.p.A. has acquired control of Next Geosolutions Europe S.p.A. as part of its strategy to create an integrated underwater technology and services platform. The transaction includes the acquisition of Marnavi S.p.A.’s 52.60% controlling stake, together with a portion of the shares held by certain management shareholders who have reinvested alongside Fincantieri. Following completion, Fincantieri is expected to launch a mandatory tender offer for the remaining shares, with the aim of delisting NextGeo from Euronext Growth Milan. The acquisition strengthens Fincantieri’s position in the underwater sector, expanding its capabilities in marine survey, geoscience, subsea infrastructure, offshore services, autonomous marine systems and critical infrastructure protection. The transaction forms part of Fincantieri’s broader underwater growth strategy, alongside its acquisitions of WSense, Graal Tech and Defcomm.
Learn more