Samos rivals Genel Energy with $359 million bid for UK's Capricorn (updated)

Genel Energy

22/07/2026 18:49

Adds details and background throughout

    July 22 (Reuters) - 
    Britain's Capricorn Energy CNE.L said on Wednesday it has received a £268.8 million ($359.33 million) all-cash bid from private investment firm Samos Energy, weeks after agreeing to a near-identical proposal from Genel Energy GENL.L.
  

    The London-listed oil and gas producer had agreed to a $360 million all-cash buyout offer from Kurdistan, Iraq-focused peer Genel 
    earlier
     in July. 
    

     
  
Here are some more details:
Samos Energy's 381 pence per share proposal represents a 43% premium to Capricorn's closing price on March 10, the day before the interest of another rival suitor, Saudi Arabia's Cafani Group, became public.
Capricorn Energy said the latest proposal is subject to due diligence and that discussions with Samos were ongoing. 
Genel Energy declined to comment.   
Interest in Capricorn has persisted for months; Cafani Group must submit a formal offer by July 29 after multiple deadline extensions.
Samos Energy is a private investment firm specializing in buying and financing traditional energy assets.
Shares of Capricorn Energy closed up 0.5% at 354 pence and have risen 81.4% this year. 
     
($1 = 0.7481 pounds)

 (Reporting by Rishab Shaju in Bengaluru; Editing by Sahal Muhammed)
 ((Rishab.shaju@thomsonreuters.com ; +91 9048142177))