UNDER THE RADAR27 Jan 2026 16:05
Key Details on EIG and Diversified Energy (DEC) Actions:
Initial Deal Structure: Following a $1.3 billion deal in early 2025, EIG initially retained a ~20% stake in Diversified Energy.
September 2025 Sale: Funds managed by EIG sold 5,713,353 shares, with options for more, at $13.75 per share.
Reduced Stake: By September 25, 2025, EIG's holdings dropped to 12.4% (9,601,585 shares).
Further Decline (Jan 2026): By January 23, 2026, EIG's stake fell below 10%, causing director Randall Wade (an EIG co-founder) to step down from the DEC board.
Transaction Context: The sales occurred amid a broader strategic shift for Diversified, including a potential move of its primary listing to the New York Stock Exchange.