ADNOC, BP bids for interest in Israel's NewMed Energy

March 28 (Reuters) - BP and ADNOC on Tuesday confirmed they have made a non-binding offer to take NewMed Energy private.

The deal involves the purchase of the free float and a partial acquisition of Delek Group’s stake, which would result in BP and ADNOC holding 50% of NewMed Energy.

"BP and ADNOC intend to form a new joint venture that will be focused on gas development in international areas of mutual interest including the East Mediterranean," BP said in a statement.
(Reporting by Ashitha Shivaprasad in Bengaluru, Editing by Louise Heavens)

Reuters

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ADNOC, BP bids for interest in Israel&apos;s NewMed Energy

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ADNOC, BP bids for interest in Israel's NewMed Energy