Milbank Advises on US$750M Financing for Energean Oil & Gas Acquisition of Edison Exploration & Production

Milbank LLP advised the lead arrangers on the financing for Energean Oil & Gas S.A.’s US$750 million acquisition of Edison Exploration & Production S.p.A. The initial consideration will be funded through a US$600 million committed loan facility and equity financing. The acquisition will create a full-cycle, independent, gas-focused exploration and production company in the Mediterranean region.

Energean is an oil and gas producer with significant operations in Greece and Israel. Edison E&P is an oil and gas development and production company with production assets in Egypt, Italy, Algeria, the UK North Sea and Croatia and development assets in Egypt, Italy and Norway.

The Milbank team was led by European Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis and Suhrud Mehta, with special counsel Miko Bradford and Randy Nahlé, and associates Alastair Gillespie, Rahul Chatterji, Stephanie Colquhoun and Darell Hayes. The team also included London Tax partner Russell Jacobs and associate James Seddon, London Corporate partner Mark Stamp, with special counsel Merih Altay and associate Cormac Kerins, New York Environmental partner Matt Ahrens and Washington, DC partner Dara A. Panahy and associates Bijan Ganji and Sean Heiden.