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Neptune to buy Engie E&P International for $3.9bn

Staff Writer |
Neptune Energy Group has entered into an exclusivity agreement under which it proposes to acquire Engie E&P International for $3.9 billion (€3.6 billion).

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Neptune, backed by funds advised by The Carlyle Group, CVC Capital Partners Fund VI and a group of co-investors would acquire a majority shareholding in EPI from France’s ENGIE Group.

The proposed transaction is subject to relevant consultation processes and customary regulatory approvals with completion expected by early Q1 2018.

EPI is a large global E&P business focused on North West Europe and with operations in North Africa and South East Asia. EPI produces more than 150 kboepd and has proven and probable reserves of 672 mmboe.

The assets are advantageously spread across the spectrum of the value chain from pre-development and development through to long-life production. EPI’s production mix is equally weighted between oil and gas.

Neptune was launched in June 2015 to focus on investing in large oil and gas portfolios that may come available as a result of energy market dynamics.

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