BREAKING NEWS

BREAKING NEWS

Neptune Energy, Germany's DEA submit bids for Edison assets - sources

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LONDON (Reuters) - Private equity-backed Neptune Energy and Germany's DEA have submitted bids for the oil and gas assets in Egypt, Italy and elsewhere which EDF's Italian unit Edison is selling, industry sources said on Friday.

The offers are non-binding at this stage, one of the sources said. Edison wants to exit oil and gas production to focus on its domestic electricity and gas retail business.

Sources with knowledge of the matter said the portfolio could be worth as much as $2 billion (1.5 billion pounds).

(Reporting by Shadia Nasralla, Ron Bousso, Clara Denina, additional reporting by Geert de Clerq; editing by Jason Neely)

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