Energean Divests Assets for $945 Million

Energean (GB:ENOG) has released an update.

Energean has announced a strategic sale of its assets in Egypt, Italy, and Croatia to Carlyle International Energy Partners for an enterprise value of up to $945 million, targeting completion by the end of 2024. This move promises to be immediately accretive to Energean’s free cash flow and includes plans for a special dividend post-transaction. The sale aligns with Energean’s strategy to focus on gas development and decarbonization efforts in the Mediterranean and EMEA regions.

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