Neptune Oil & Gas $3.9 billion acquisition of majority stake in Engie exploration and production business

Overview:

• Neptune Oil & Gas has acquired a majority stake in Engie's  exploration and production business for $3.9 billion.
• Neptune was backed by funds advised by The Carlyle Group (through its Carlyle International Energy Partners platform), CVC Capital Partners Fund VI and a group of co-investors.
• EPI is a large global E&P business focused on North West Europe and with operations in North Africa and South East Asia.
• Neptune, led by former Centrica CEO Sam Laidlaw, was launched in June 2015 to focus on investing in large oil and gas portfolios that may come available as a result of energy market dynamics. 
• Zaoui & Co, BNP Paribas and Citi acted as lead financial advisers to Neptune.
• The oil service sector has come under pressure in recent years due to low commodity prices and the deal is a latest in a string of North Sea deals completed in the past few months including Chrysaor Holdings' £3 billion acquisition of Shell North Sea oil assets, Siccar Point Energy's $1 billion acquisition of OMV UK, Delek's £518 million acquisition of Ithaca Energy and Wood Group £2.23 billion acquisition of Amec Foster Wheeler.

Katrin Kostadinova - Data analyst