Energean PLC - gas exploration and production in Mediterranean - Completes acquisition of Edison Exploration & Production Spa from Edison Spa. Gross consideration is USD284 million. Net consideration, excluding cash acquired, is USD203 million. Energean first agreed to buy Edison E&P in July 2019 for a gross price tag of USD750 million, but this was reduced by USD466 million this past June, after excluding assets in Norway and Algeria. The deal still includes Edison's UK North Sea assets.
Current stock price: 695.50 pence
Year-to-date change: down 25%
By Tom Waite; thomaslwaite@alliancenews.com
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Energean Oil & Gas (ENOG)