India, May 20 -- Centrica Plc (CNA.L), a British energy and services company, said on Tuesday that subsidiaries of Spirit Energy Limited have inked agreements to sell a 46.25% interest in the Cygnus gas field to a subsidiary of Ithaca Energy Plc.
The total value of the transaction to Spirit Energy is estimated at around 215 million pounds. This includes headline consideration of 116 million pounds and the transfer of 99 million pounds of decommissioning liabilities associated with the interest. Centrica's 69% share of headline consideration is expected to be 80 million pounds.
Chris O'Shea, Group Chief Executive of Centrica and Chairman of Spirit Energy, said: "Through this disposal we are taking another step in reducing our exposure to g...