Sale of the Stake in Reggane Nord in Repsol and Wintershall Dea

Source Company Press Release
Company Edison SpA, Repsol, Wintershall Dea GmbH
Tags Country: Algeria, M&A: Asset Deal, Deals, Upstream: Upstream News
Date October 13, 2023

Edison announces that, following the approval by the Algerian authorities - with a decree published in the official gazette on October 12, 2023 - of the agreements signed on May 4 and June 29, 2022, it has completed the sale of its 11.25% stake in the Reggane Nord licence, in Algeria, to Repsol (6.75%) and Wintershall Dea (4.50%). The Reggane Nord field produces gas entirely sold to  Sonatrach on a long-term basis.

The Company informs that the value of the transaction is confirmed to be, as previously announced, of approximately USD 100 million (as of the reference date of 1/1/2022), and all other terms and conditions remain unchanged. 

With this transaction, Edison confirms its strategic commitment to focus its investments toward energy transition and security of supply of the Italian energy markets with over 10 billion euros of CAPEX to be invested between 2023 and 2030. 

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