Mubadala Energy supports global expansion plans via stake acquisition deal with Kimmeridge
UAE: Mubadala Energy has signed a deal with Kimmeridge, the energy-focused alternative asset manager, to acquire a 24.10% interest in Kimmeridge's SoTex HoldCo LLC (SoTex).
The transaction, which will be implemented via the issuance of new equity, marks Mubadala Energy's entry into the US market, according to a press release.
This acquisition aligns with the UAE-based group's global expansion plans, as it supports its growth plans to invest across the gas value chain in key energy hubs worldwide.
Meanwhile, the transaction is subject to customary regulatory filings and approvals before closing.
Through SoTex, Kimmeridge is building America's first integrated gas independent to secure low-cost natural gas from wellhead to water and meet increasing demand for responsibly produced LNG across global markets.
Bakheet Al Katheeri, Chairman of Mubadala Energy, commented: " As the company's first major investment in the U.S., this transaction positions Mubadala Energy for accelerated growth across the gas value chain in one of the world's most important and attractive energy hubs."
Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: "The investment also highlights our strong position to accelerate our expansion across the gas value chain and build on our strategic international portfolio.'
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