Industry Newsroom

Warburg Pincus Agrees to Back Acquisition of Pampo and Enchova Oilfields, Sells Stake in Wise Talent for USD15 Million

Trident Energy, an Africa- and Latin America-focused oil and gas exploration company established by global private equity fund manager Warburg Pincus, has agreed to acquire the rights to the Pampo and Enchova offshore oilfields from Brazilian state-owned oil company Petrobras. Trident will acquire the assets using a reserve-based loan, in addition to financial support from Warburg and other investors. Financial details of the transaction, which is expected to close in the first half of 2020, were not disclosed. Separately, Warburg Pincus has sold a stake in China-based Wise Talent Information Technology, which operates career development and recruitment platform Liepin, for HKD117 million (approximately USD15 million) on the Hong Kong Stock Exchange. Warburg first invested in Wise Talent in its USD70 million Series C round in 2014 through Warburg Pincus Private Equity XI and will retain a 17.6 percent stake in the company.