Greece's KLC Law Firm has assisted Italy's Edison on the sale of its Edison Exploration & Production subsidiary to Greece's Energean — a deal that closed on December 17, 2020.
According to an Energean press release, the gross consideration for the transaction, as at the locked box date of January 1, 2019, is USD 284 million, and the final net consideration (net of cash acquired) is USD 203 million.
“Completion of our acquisition of Edison E&P marks a key milestone along our path to becoming the leading independent, gas-producer in the Mediterranean and significantly advances us towards our goal of delivering material free cash flows and shareholder returns in a sustainable way,” said Energean CEO Mathios Rigas.
