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Aethon Energy Management Completes Sale of Asset Stakes to Mitsubishi

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Aethon Energy Management has completed the sale of 100% of the equity interests of Aethon United and Aethon III to Mitsubishi, it said on Tuesday, noting that it was the largest ever acquisition for the Japanese company.

The operation of the Aethon Fund II and Fund III assets has also been moved to Adamas Energy, a newly-created subsidiary of Mitsubishi, with Gordon Huddleston to serve as its president and CEO.

Aethon will keep operating as a private investment company and owner and operator, executing an investment strategy that involved identifying and developing asymmetric opportunities in oil, natural gas and sustainable energy.

This could include commercial opportunities in energy and next-generation infrastructure projects with Mitsubishi through the Global Strategic Alliance which was set up in January.

Aethon will also buy a 25% non-operated working interest in the assets now sold to Mitsubishi, the statement said, subject to raising the financing and obtaining regulatory approvals.

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Aethon Energy Management Completes Sale of Asset Stakes to Mitsubishi | FINWIRES