Eni, Var Energy to Buy Neptune Energy's Global and Norwegian Businesses
23 Junho 2023 - 3:54AM
Dow Jones News
By David Sachs
Eni and Var Energi will acquire Neptune Energy Group's global
and Norway businesses for around $4.9 billion, including debt, Eni
said Friday.
Eni, an Italian energy company, said it will buy the
London-based oil and gas company's entire portfolio, minus its
German and Norway businesses, for $2.6 billion including debt.
Oslo-based Var Energi will acquire Neptune's Norway operations for
around $2.3 billion, including debt, in a separate deal. Eni owns
63% of Var.
The deal supports Eni's goal to increase its share of natural
gas production to 60%, it said.
Neptune's German business will be carved out before the
transactions, Eni said. Neptune's Norway and global businesses
combined for a total of $500 million in pro forma net debt as of
the end of 2022, Eni said.
The deal is subject to standard regulatory conditions and is
expected to close in the first quarter of next year.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
June 23, 2023 02:39 ET (06:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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