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Eig To Acquire 25% Of Repsol’S Entire Global Upstream Business In New Partnership

Sep 07, 2022•almost 3 years ago

Acquiring Company

MidOcean Energy

Acquired Company

Repsol E&P Group

WashingtonOil And GasRenewable EnergyEnergyBiomass EnergyRenewable EnergyOil And GasEnergy

Description

EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that it has entered into a definitive agreement with Repsol S.A. (“Repsol”) to acquire a 25% stake in Repsol Upstream, a newly-formed global exploration & production (“E&P”) company comprising Repsol’s entire global upstream oil and gas business. The strategic partnership delivers upfront capital to Repsol to increase its investment in the energy transition, specifically to support the growth of Repsol’s renewable power generation, renewable fuels, and circular products segments.

Company Information

Company

MidOcean Energy

Location

Washington, District Of Columbia, United States

About

MidOcean Energy, established and operated by EIG, is focused on building a diverse, resilient, cost-competitive global LNG portfolio. As a strategic enabler of the energy transition, MidOcean Energy reflects EIG’s belief in the importance of LNG and the increasing geopolitical significance of LNG as an energy resource. Dela Rey Benter, a 26-year industry veteran, is the President of MidOcean Energy.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed