M&A WATCH- Italy’s Eni is not looking to acquire the Dana Gas’ assets in Egypt, Eni CEO Claudio Descalzi tells Bloomberg TV (watch, runtime: 7:14).
Descalzi stressed that Eni is satisfied with its portfolio for the time being and plans to focus on developing current assets before biting off more.
Dana Gas had received offers for buying its assets in Egypt and expects to make a decision on the sale after bidding closes by mid-November to focus its resources on its assets in Kurdistan.
The company was looking to complete the sale in one transaction, but is also considering only a partial sale, which hinges on the offers presented.
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