Private equity firm Quantum Energy Partners is in advanced negotiations to sell US natural gas producer Rockcliff Energy to a unit of Japanese energy firm Tokyo Gas Co Ltd for around $4.6 billion, according to a report by Deal Street Asia.
Private equity firm Quantum Energy Partners is in advanced negotiations to sell US natural gas producer Rockcliff Energy to a unit of Japanese energy firm Tokyo Gas Co Ltd for around $4.6 billion, according to a report by Deal Street Asia.
The report cites unnamed sources as revealing that the all-cash deal with Houston-based TG Natural Resources, which is 70% owned by Tokyo Gas Co with the remainder of the firm owned by Castleton Commodities International (CCI), is set to be announced this month.
TG Natural Resources is reportedly arranging funding from several financing sources to support the transaction, including banks and private credit providers, although a deal has yet to be formally agreed and the talks may end without agreement being reached.
