Energean in Kerogen talks over asset stake

摘要

LONDON-LISTED independent Energean is in talks with private equity player Kerogen Capital about a potential $1 billion deal to acquire the latter's stake in Energean Israel Ltd (EIL), the legal entity that operates the Karish and Tanin gas and liquids assets off Israel. Energean has entered into an exclusivity arrangement with a Kerogen Capital affiliate about acquiring its 30% interest in EIL. On 7 December, Energean and Kerogen struck a deal granting a 30-day period of exclusivity in order to negotiate a potential transaction that would need to be rubber-stamped by Energean's shareholders. Energean said it expects to fund the deal without needing to tap the equity market.