One-Page Deal Sheet
Eni Sells 25% Stake in East Africa Block to Exxon for $2.8B
ExxonMobil Eni S.P.A
Announced Date
March 09,2017
Close Date
December 13,2017
Transaction Type
Working Interest
Enterprise Value (EV)($MM)
2800
Asset/Basin:
{"Rovuma Basin"}
Location
Region
Africa - East Africa
Country
Mozambique
Transaction Details: Subscribe to see
[Summary: ExxonMobil and Eni have signed a sale and purchase agreement to enable ExxonMobil to acquire from Eni a 25 percent indirect interest in the natural gas-rich Area 4 block, offshore Mozambique. Eni currently holds a 50 percent indirect share in the block through a 71.4 percent stake in Eni East Africa, which owns 70 percent of the Area 4 concession.]
The agreed terms include a cash price of approximately $2.8 billion. The acquisition will be completed subject to satisfaction of a number of conditions precedent, including clearance from Mozambican and other regulatory authorities.
Eni…
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