Petrofac rakes in $146m as sale to Ithaca Energy completes
Petrofac announced on Wednesday that it has completed the sale of Petrofac GSA Holdings to Ithaca Energy UK.
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Petrofac Ltd.
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The FTSE 250 company initially revealed the sale on 24 August.
Its board said the gross consideration on completion was $146m.
“Ithaca will pay a further $120m of non-contingent deferred consideration in the period 2020-2023,” the Petrofac board confirmed in its statement.
“A further $25m of contingent consideration is payable depending on field performance.”