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Announced

Viaro Energy-backed RockRose Energy to acquire SSE's gas exploration and production assets for £120m.

Financials

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Transaction Value£120m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Offshore Drilling and Other Services

United Kingdom

Domestic

Private Equity

Private

Pending

gas production

Majority

oil and gas exploration

Acquisition

Single Bidder

Friendly

Synopsis

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Viaro Energy-backed RockRose Energy, an investment company, agreed to acquire SSE's gas exploration and production assets for £120m ($160m). "We have said for some time that gas exploration and production assets are inconsistent with our future ambitions and vision to be a leading energy company in a net-zero world. This sale clearly comes at a difficult time for the E&P sector, and the economy as a whole, but we believe it is the right move for our shareholders as we focus our resources on our core low-carbon businesses," Gregor Alexander, SEE Finance Director.

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