Acquisition of Summit Exploration & Production Limited

Source Quarterly Report
Company Delek Group Ltd.Ithaca Energy Inc.Sumitomo Corporation 
Tags Corporate Deals, Deals, Upstream Activities
Date March 31, 2022

SUBSEQUENT EVENTS

The Group signed a Sale and Purchase Agreement for the acquisition of Summit Exploration & Production Limited which was based on an enterprise value of $148 million. Taking into account cash of $70m and other adjustments, headline consideration is $224m. The transaction has an economic date of 1 January 2021 and is subject to normal completion activities including gaining consent from the North Sea Transition Authority (formerly the Oil and Gas Authority).

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