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Delek Group Participating in The Sales Process For Chevronís North Sea Assets

Source: www.gulfoilandgas.com 4/29/2019, Location: Europe

Delek Group has announced that, as part of its strategy to expand its activities in the international energy markets and capture additional operational and financial synergies, its wholly-owned subsidiary Ithaca Energy has submitted a bid in relation to the Chevron sales process for a package of North Sea oil and gas producing fields and is in discussions with Chevron in relation to its bid.

The sales process relates to Chevron's interests in the oil and gas fields Alba, Alder, Britannia (and its satellites), Captain, Elgin/ Franklin, Erskine and Jade located in the UK North Sea. To the extent that any transaction is concluded between the parties it is anticipated that closing would follow in 2019 and would be funded inter alia through a combination of conventional non-recourse debt finance and existing resources. It should be noted that there can be no certainty that the submission of a bid or any subsequent discussions will lead to a binding sale and purchase agreement or transaction being concluded.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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