-Acquisition of Edison E&P for gross consideration of $284 million.
-The deal creates one of the largest independent E&P companies on the London and the Tel Aviv Stock Exchanges, with more than 800 mmboe 2P reserves and 2C resources, 72% of which is gas, and a clear path to production of 130,000 boepd, once the Karish field, offshore Israel, comes on stream.
-The $100 million Cassiopea contingent payment will now vary between $0 and $100 million, depending on future Italian gas prices
-A $220 million Reserve Based Lending facility has been signed with ING, Natixis and Deutsche Bank and has replaced the acquisition bridge facility that was put in place on 3 July 2019.
-The Edison E&P assets in Algeria and Norway have been excluded from the perimeter of the deal.