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Chance Bridge Partners assists the SAM Group in acquiring Australian listed Wolf

Date:2020-05-08 17:07:38

Wolf Petroleum Ltd, ASX: WOF, assembled a shareholders' meeting on the 19th of October 2016 to discuss and approve the resolution to issue shares to China’s SAM Group Co. Ltd. After this release, SAM Group will hold a 51% stake in Wolf Petroleum, becoming its largest shareholder.

The SAM Group was established in 1985 and headquartered in Beijing; it is a holding corporation with a number of professional groups and subsidiaries. The SAM Group’s acquisition program ensures that its oil and gas exploration in Mongolia accelerates the implementation of SAM’s international development strategy; it is also an important measure for the company's future development. At the same time, SAM Group is conductive to the main business’ need for upstream development and to create convenient conditions for overseas investment.

Wolf Petroleum is listed on the Australian Stock Exchange.It owns Mongolian oil assets. In 2011 and 2013, Wolf Petroleum was awarded the title of "Best Exploration Engineer of the Year" by the Mongolian Petroleum Bureau.

As the special legal advisor of SAM Group, Chance Bridge Partners, headed by Ms. Ning Zhu, is responsible for the project acquisition. In addition, senior partners Ms. Klaudia Chen, and Mr. Xu Guangzhe were all involved in the project negotiation, drafting and revising legal documents, legal due diligence. They will work with overseas lawyers on corporate restructuring and corporate governance after the acquisition. 
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