Eni's UK Oil and Gasfields Settle £750mn Deal with Ithaca Energy.

Quick Summary:

The transaction also gave Ithaca stakes in the undeveloped Cambo and Rosebank fields.

Eni will receive a 38 per cent stake in the enlarged Ithaca group, worth about £754mn based on its closing share price of 118.8p on Tuesday.

The sale to Ithaca — which is majority owned by Israel’s Delek Group — includes British assets that Eni took on with Neptune.

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Article Details

Author / Journalist: Rachel Millard

Category: MarketsFinanceInvesting

Markets: United StatesIsraelUkraine

Topics: Fields Ithaca Financial Transaction Neptune Assets Energy Last North Largest Deal

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-23 @ 19:57:52 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 577 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 20773765

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