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Energean has entered into a conditional sale and purchase agreement with Kerogen Investments No.38 Limited for the proposed acquisition of its 30 percent shareholding in Energean Israel Limited. Energean plc (LSE: ENOG) has announced that it has entered into a conditional sale and purchase agreement with Kerogen Investments No.38 Limited, an affiliate of Kerogen Capital, for the proposed acquisition of its 30 percent shareholding in Energean Israel Limited (EIL). As part of the deal, which would result in Energean owning 100 percent of EIL’s share capital, Energean would provide a total con...

  · $432 million of gross assets · $157 million of net assets · $0.5 million of net losses   The Company believes that the current Minority Interest financial data is not representative of the value of the assets, or the future cash flows that will be generated by the assets, due to the stage of development of the assets contained within EISL.     Some of the information contained within this announcement is considered by Energean to constitute inside information, as defined under the EU Market Abuse Regulation, EU No.596/2014. By the publication of this Announcement via a Regulatory I...

Israel: Energean announces proposed acquisition of Kerogen Capital’s 30 percent shareholding in Energean Israel 04 Jan 2021 Sale and Purchase Agreement ('SPA') with Kerogen Investments No.38 Limited, an affiliate of Kerogen Capital, for the proposed acquisition of Kerogen's 30% shareholding in Energean Israel Limited ('EISL'), which would result in Energean owning 100% of EISL's share capital. Highlights - Acquisition Acquisition to acquire Kerogen's 30% shareholding in EISL for a total consideration of between $380 million and $405 million The Total Consideration includes: An up-front p...