Korea National Oil Corp - KNOC

:

Harvest Energy Trust

Dealogic Deal #  :

651255

Data as of :

10/22/2009

Target

Acquiror

Dates & Values

Harvest Energy Trust

Korea National Oil Corp - KNOC

Target:

100

% stake

Buying:

100

% stake

Rumored

-

Deal Value $m

3,957.9

TR

HTE_u

180

m shares outstanding

Government (Not listed)

Announced

21st Oct 2009

Value ex Debt $m

1,736.9

Canada

South Korea

Oil & Gas

Oil & Gas

Expected

4Q 2009

Consideration

TD Securities | Advisor

Bank of America Merrill Lynch | Advisor

Completed

-

Withdrawn

-

Termination Fee, Target $m

96.5624

Termination Fee, Acquiror $m

tbd

Financials

31st Dec 2008

Balance Sheet

Debt/Equity:

1.2

Timeline Events

Premiums & Multiples

Initial Offer

CAD 10.00

Current Offer

CAD 10.00

Income Statement

Cash Flows

Operations $m

633

Profitability

Profit Margin

6%

Return on Equity

19%

League Table Impact

Sector Trend

2009 YTD Announced Global M&A by Deal Value, $bn

Monthly Announced Global M&A, $bn:

Oil & Gas

1

Morgan Stanley

481.4

2

Goldman Sachs

476.3

3

JPMorgan

423.8

4

Citi

377.5

5

BOA Merrill Lynch

278.5

6

Credit Suisse

263.0

7

Lazard

236.3

8

Deutsche Bank

210.7

9

UBS

203.7

10

Barclays Capital

169.7

43

TD Securities

10.3

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