Oranje-Nassau sells oil & gas assets for EUR630m

Oranje-Nassau Groep, part of listed French private equity group Wendel Investissement, has sold its oil & gas division to a consortium led by energy company Dyas UK, a subsidiary of family-owned SHV Holdings, in a deal valued at EUR630m. The price was based on a long-term oil price of $70 a barrel.

The deal gives Oranje-Nassau a capital gain on disposal of nearly EUR350m, after having paid off EUR125m in debt. Net cash proceeds for Wendel will be around EUR505m.

Oranje-Nassau still holds Deutsch, Stahl, Stallergenes, Materis and AVR, and will remain a key platform in the Wendel group for more international developments.

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