Four Investors In Race To Buy Majority Of Italy's Adriatic LNG Terminal As Exxon Sells Stake; Deal Could Value Adriatic LNG Around €800M
Portfolio Pulse from Happy Mohamed
Four investors are competing to acquire a majority stake in Italy's Adriatic LNG terminal as Exxon Mobil (XOM) sells its stake. The deal could value Adriatic LNG at around €800 million.
May 26, 2023 | 2:14 pm
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Exxon Mobil is selling its stake in Italy's Adriatic LNG terminal, with four investors competing to acquire a majority stake. The deal could value the terminal at around €800 million.
Exxon Mobil is selling its stake in the Adriatic LNG terminal, which could lead to a change in ownership structure. While the deal could value the terminal at around €800 million, the short-term impact on XOM's stock price is likely to be neutral as the sale is part of the company's ongoing asset divestment strategy.
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