Mitsubishi Corporation closed on a $7.5 billion acquisition of Dallas-based Aethon Energy’s Haynesville Shale assets, spanning Texas and Louisiana. The deal is Mitsubishi’s largest acquisition in its history.
What Mitsubishi actually bought
Aethon Energy was the third-largest privately held energy producer in the US, and the biggest focused exclusively on natural gas. Its Haynesville Shale assets produce approximately 2.1 billion cubic feet per day on a net basis.
The total enterprise value of the deal came in at roughly $7.5 billion, broken down into $5.2 billion in equity and $2.33 billion in assumed debt. Earlier discussions had floated a valuation closer to $8 billion.
The sellers include Aethon’s management team, the Ontario Teachers’ Pension Plan, and RedBird Capital Partners. Aethon retains an option to repurchase up to 25% of the assets after the transaction closes.
