Announcement of Execution of Share Transfer Agreement Associated with Change to Specified Subsidiary

Source Press Release
Company Marubeni CorporationDelek Group Ltd.Ithaca Energy Inc. 
Tags Corporate Deals, Deals, Upstream Activities
Date November 04, 2021

Marubeni Corporation (“Marubeni”) announced on November 2, 2021 that Marubeni will transfer all shares of Marubeni Oil & Gas (U.K.) Limited (“MOGUK"), which owns oil and gas fields in the UK North Sea. Further to the above mentioned announcement, Marubeni North Sea Limited, a 100% subsidiary of Marubeni have entered into a definitive agreement to transfer all shares of MOGUK to Ithaca Energy (UK) Limited.

1. Overview of the Counterparty in the Transaction

(1) Name  Ithaca Energy (UK) Limited 
(2) Address  13 Queen's Road, Aberdeen, AB15 4YL, UK 
(3) Title and Name of Representative  Gilad Myerson (Director) 
(4) Business Description  Exploration, development, production and sales of crude oil and natural gas 
(5) Capital (As of December 2020)  US$ 641million※1 (70,508 million yen※2) 
(6) Date of Establishment  August 16, 2004 
(7) Net assets and total assets (fiscal year ended December 31, 2020)  Net assets: US$ 961million※1 (105,705 million yen※2 ) Total assets: US$ 4,254million※1 (467,919 million yen※2) 
(8) Major Shareholders and Ownership Ratio  Ithaca Energy Limited 100% 
(9) Relationship with the Company  Capital relationship: Ithaca and Marubeni have no noteworthy capital relationship. Personnel relationship: Ithaca and Marubeni have no noteworthy personnel relationship. Business relationship: Ithaca and Marubeni have no noteworthy business relationship. 
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