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Deal snapshot: SOUND ENERGY TO SELL ITALIAN PORTFOLIO TO SAFFRON.

MANews-(C)2009-2018

African and European-focused upstream gas company Sound Energy (LSE: SOU) has agreed to sell to Italian energy company Saffron Energy plc (LSE: SRON) its portfolio of Italian interests and permits through the acquisition by Saffron of the entire issued share capital of Sound's wholly owned subsidiary, Sound Energy Holdings Italy Ltd., the company said.

SEHIL holds all of Sound Energy's Italian oil and gas interests through its own wholly owned subsidiary, Apennine Energy SpA. It is proposed that Saffron will be renamed Coro Energy plc.

Country: Italy

Sector: Petroleum/Natural Gas/Coal

Target: Sound Energy Holdings Italy Ltd

Buyer: Saffron Energy

Vendor: Sound Energy

Deal size in USD: 2.24m

Type: Divestment

Financing: Stock

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Date:Jan 24, 2018
Words:122
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