HK-listed United Energy says to buy Kuwait Energy for $651 mln

United Energy

24/09/2018 02:05

HONG KONG, Sept 24 (Reuters) - United Energy Group Ltd
 0467.HK  said on Monday it would buy Kuwait Energy Public Ltd
for up to $650.9 million as the Hong Kong-listed upstream oil
and gas corporation aims to enter the Middle East and North
Africa.
    The deal will transform United Energy into a medium-sized
international independent oil and gas company with a diversified
portfolio of assets while further expanding its development
potential, it said in a filing to the Hong Kong bourse.
    Kuwait Energy is an upstream oil and gas company with
exploration, appraisal, development and production activities in
a number of countries including Iraq, Egypt, Yemen and Oman, it
added.

 (Reporting by Donny Kwok; Editing by Stephen Coates)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters
Messaging: donny.kwok.reuters.com@reuters.net))