On 24th May, INEOS announced the acquisition of DONG's E&P business for USD1.05bn with two further contingent payments:
USD150 million relating to the Frederica stabilisation plant; and
USD100 million subject to the development of Rosebank
As part of the transaction, DONG will retain all hedges that are currently in place (worth USD285 million) and cashflows from the oil & gas business (worth c.USD310 million). Ineos will adopt all decommissioning liabilities (c.USD1.1 billion).
The deal includes a portfolio of long life assets with...
