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Ophir Energy names head of M&A

Dato Sandroshvili has joined Ophir Energy in a new post as head of mergers and acquisitions. He was previously a managing director at investment banking advisory firm Evercore Partners, where he worked on a succession of transactions for Ophir. The Financial Times noted that Ophir, which was backed by Indian steel tycoon Lakshmi Mittal, Polish billionaire Jan Kulczyk and the US hedge fund Och Ziff ahead of its 2011 share flotation, has long been seen as an eventual takeover target. Ophir sold down 20% of its Tanzanian gas assets in 2013 to Pavilion Energy for $1.29bn, but markets have raised concerns about its ability to raise the finance for a global-scale development.

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