Ithaca Energy is shaking up top team as it pushes ahead with deal to buy British assets from Italian rival Eni
Merger: Ithaca expected to complete £754m deal for Eni’s UK oil and gas producing assets within weeks
Ithaca Energy has reshuffled its leadership team as it pushes ahead with a deal to buy the British assets of Italian oil giant Eni.
Luciano Vasques, managing director of Eni UK, will join the North Sea giant as CEO once the merger is completed.
Vasques will fill the position left by Alan Bruce, who retired from the FTSE 250 group in January. Gilad Myerson, who oversaw eight deals during his five-year tenure, has stepped down from his role as executive chairman.
He has been replaced on an interim basis by Dave Blackwood ahead of the formal appointment of Yaniv Friedman, who previously headed Tel Aviv-listed Modiin Energy.
Ithaca is expected to complete the £754m deal for Eni’s UK oil and gas producing assets within weeks.
This move means that it also takes control of Neptune Energy, a major player in the North Sea that was acquired by Eni at the beginning of this year. Ithaca shares rose 2.6 percent to 116.8p.