The merger of New-Med and Capricorn creates another natural gas producer in the region

According to the terms signed, in light of the merger, the partnership will become a private corporation owned by Capricorn, which will issue new shares to New-Med shareholders according to an exchange ratio of approximately 2.34 shares of the company for each New-Med share. As a result, the shareholders of Capricorn will actually own 10.3% of the new company, and the shareholders of New-Med will own 89.7% of the merged company. Also, Capricorn will distribute to the holders of its shares a special cash dividend and additional related payments amounting to 620 million dollars.

More in-

The merger of Capricorn and New-Med, which is taking place at a time when Europe needs an energy supply that is not from Russia, gives birth to another natural gas producer in the Israel-Egypt region, whose holdings include New-Med’s share in the Leviathan gas reservoir in Israel (about 35% of the shares). Capricorn also owns an oil reservoir in Egypt that produces 35,000 barrels a day.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent News

Editor's Pick