This content is not available in your region

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

Text size Aa Aa

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)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.