Global law firm White & Case LLP has advised Energean Oil & Gas plc (Energean) on its conditional Sale and Purchase Agreement to sell Edison E&P's UK and Norwegian subsidiaries to Neptune Energy Group Holdings Limited for US$250 million cash, with additional cash contingent consideration of up to US$30 million.
"Our role on this transaction follows our work earlier this year advising Energean on its US$750 million acquisition of Edison E&P," said White & Case partner Allan Taylor, who co-led the Firm's deal team. "The onward sale of the non-core assets is an important step in the ambition of Energean to become the largest independent gas-focused E&P Company in the Mediterranean."
The sale of the assets is conditional on UK and Norwegian regulatory approval and on completion of Energean's acquisition of the assets from Edison E&P.
The White & Case team which advised on the transaction was led by partners Allan Taylor and Richard Jones (both London), with support from partners Peita Menon (London) and Veronica Pinotti (Milan) and associates Akito Watkin, Richard Wilson and Khurram Kayani (all London) and Martino Sforza (Milan).
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