Deal Insight
Tenaz acquires NAM's offshore portfolio
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Report summary
On 18 July 2024, NAM agreed the sale of its portfolio of offshore assets in the Netherlands to Tenaz Energy for an expected US$262 million, of which US$180 million is firm. Along with the base purchase price, the deal also includes a contingent earn-out and uncapped contingent payments linked to exploration success and the Dutch TTF gas price. Completion is expected by mid-2025, subject to customary regulatory and antitrust approvals.
Table of contents
- Upsides
- Risks
- NAM (Shell and ExxonMobil)
- Tenaz Energy
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