Energean to buy remaining stake in Israeli oilfields for up to $405 million

(Reuters) – Gas exploration and production firm Energean Plc said on Wednesday it would acquire the remaining 30% stake in its Israeli offshore fields for $380 million to $405 million.

The company, which currently holds 70% interest in its Israeli unit, said it would pay private-equity firm Kerogen Capital $175 million upfront for the stake and a deferred payment of $125 million to $150 million after the completion of the Karish project.