NEW YORK, NY: Fox Petroleum Group, a global leader in oil and gas with 17 direct branches and 47 joint ventures, has officially entered into a Non-Disclosure Agreement (NDA) with L.A Business Consultancy Ltd, based in Cyprus. This agreement signifies Fox Petroleum’s intent to explore the strategic acquisition of Astrobank Public Company Limited, a European private bank.
The NDA, signed in September 2024, outlines a confidential framework for discussions and the exchange of information between the parties. Fox Petroleum Group, represented by its Chairman and Managing Director, Dr. Ajay Kumar (PhD), is working closely with L.A Business Consultancy Ltd, whose expertise in structuring mergers and acquisitions (M&A) will be pivotal in the deal.
This acquisition marks Fox Petroleum’s expansion into the European financial sector. The goal is to leverage Astrobank’s robust platform for the Group’s further growth in global energy investment through its investment arm, Fox Capital and Investment.
The confidentiality of the discussions is protected under the terms of the NDA, ensuring that the acquisition is carefully negotiated and executed with discretion. Both parties have committed to a No-Shop Period of six months, during which Fox Petroleum will not engage with any other party on a similar transaction.
Dr. Ajay Kumar stated, “This acquisition aligns with our strategy to diversify Fox Petroleum’s portfolio and strengthen our financial services capabilities globally. We are excited about the potential to collaborate with Astrobank and leverage their expertise and market presence in Europe.”
Further details will be disclosed once both parties move toward finalizing the acquisition, subject to regulatory approval and financial due diligence.
About Fox Petroleum Group: Fox Petroleum Group operates globally in oil and gas with diversified investments in energy, infrastructure, and financial services. With operations spanning six countries, including the United States, Australia, the United Kingdom, South Africa, Kenya, and Russia, Fox Petroleum is committed to innovation, growth, and excellence in the sectors it serves.
