Ithaca Energy shakes up prime group forward of merger with Italian rival
Merger: Ithaca is expected to complete its £754million 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 UK assets of Italian oil major Eni.
Luciano Vasques, managing director of Eni UK, will join the North Sea giant as chief executive once the merger is completed.
Vasques will fill the position left by Alan Bruce, who stood down from the FTSE 250 group in January. Gilad Myerson, who has overseen eight deals during his five-year tenure, has left his role as executive chairman.
He has been replaced by Dave Blackwood on an interim basis before the formal appointment of Yaniv Friedman, who used to run Tel Aviv-listed Modiin Energy.
Ithaca is expected to complete its £754million deal for Eni’s UK oil and gas-producing assets within weeks.
The move will mean it will also take control of Neptune Energy, a major North Sea player acquired by Eni at the start of the year. Ithaca shares gained 2.6 per cent to 116.8p.
