Eni's Vaar in $2.3 bln deal to buy Neptune's Norwegian business (updated)

Rich Goldman Holdings

23/06/2023 06:57

(Adds detail, quote in paragraphs 2-4)
       OSLO, June 23 (Reuters) - Vaar Energi  VAR.OL , a unit
of Italy's Eni  ENI.MI , said on Friday it has agreed to buy
Neptune Energy's Norwegian subsidiary for $2.28 billion. 
    The deal will accelerate Vaar's growth and value creation as
an oil and gas producer in Norway, the company said in a
statement. 
    Eni has agreed in addition to acquire the remaining assets
of the Neptune group outside of Norway and Germany in a separate
transaction. 
    "Completion of both transactions is inter-conditional," Vaar
said in a statement. 

 (Reporting by Terje Solsvik; Editing by Christopher Cushing and
Tom Hogue)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70;))