Engie E&P in crosshairs
Multinational 
PARIS, May 11, 2017 – Engie is close to selling its exploration and production division to Neptune Oil & Gas, French media reported late on Wednesday.
According to the Les Echos, the deal on a majority stake in Engie E&P – 70% – could be announced within weeks. China Investment Corporation holds a 30% interest in the division.
The financial daily added that the 70% shareholding is valued at EUR 3.3 billion, with the price tag for the entire unit set at EUR 4.7 billion.
Reports on the acquisition by Neptune, an entity created in 2015 by private equity fund Carlyle Group and CVC, first surfaced in October 2016. In March of this year, Engie CFO confirmed that talks on the sale of the E&P division were underway as part of a EUR 15-billion divestment programme.
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