Eni is in Closed Talks to buy Neptune Energy
Italian energy company Eni is in closed talks to acquire Neptune Energies, an oil and gas company, in a deal worth between $5 billion and $6 billion, Reuters reported citing its own sources.
Italian energy giant Eni has entered into exclusive talks to acquire privately-backed gas and oil producer Neptune Energy after it improved its previous offer to just under $6 billion.
Acquisition talks began at the end of last year and have been exclusive for the past two weeks, sources say, which may indicate progress but does not guarantee a deal. Eni agreed to increase the proposed amount, but kept it in the $5 billion to $6 billion range.
Neptune Energies is owned by China Investment Group (CIC), the Carlyle Group and CVC Capital Partners. The company, in particular, operates in Europe (Britain, Norway, the Netherlands), Africa (Algeria), Asia (Indonesia), in the first quarter of this year, production volumes amounted to 142 thousand barrels of oil equivalent per day, of which three quarters are gas, cites data from Reuters.
Eni is an energy company operating in 62 countries and employing about 32,000 people. Engaged in exploration, development and production of oil and gas; processing, marketing, trade and transportation of raw materials; as well as renewable energy sources.
