Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 250 movers: Diversified jumps on assets sale
(Sharecast News) - FTSE 250 (MCX) 19,531.06 -0.81%
Diversified Energy has sold producing assets in Appalachia to a special purpose vehicle, DP Lion Equity Holdco, it announced on Tuesday, while retaining a 20% minority interest in the vehicle and continuing to operate them.
The FTSE 250 company said the transaction yielded $200m in proceeds for the company.
After accounting for transaction-related costs, the net proceeds were used to repay outstanding borrowings under its sustainability-linked loan, resulting in a reduction in net debt of 12%, while the remaining funds were allocated for general corporate purposes.
The transaction's implied valuation was a multiple of 5.7 times the anticipated hedged 2024 EBITDA, estimated at $35m.
They were previously used as collateral for the sustainability-linked loan and held a PV-10 valuation of $230m, with a gross production rate of around 50 million cubic feet equivalent per day.
"This latest transaction further demonstrates the attractiveness of Diversified's asset base that provides reliable production and consistency of cash flows," said chief executive officer Rusty Hutson Jr.
"At an attractive multiple, this transaction has provided a path for the company to unlock additional value from our assets, reduce our outstanding debt, and enhance our liquidity."
FTSE 250 - Risers
Diversified Energy Company (DEC) 1,185.00p 6.28% Babcock International Group (BAB) 417.40p 5.67% Hipgnosis Songs Fund Limited NPV (SONG) 75.00p 4.17% Bakkavor Group (BAKK) 84.00p 3.70% Harbour Energy (HBR) 316.40p 2.53% Indivior (INDV) 1,208.00p 1.94% Direct Line Insurance Group (DLG) 185.40p 1.90% Balfour Beatty (BBY) 337.20p 1.81% TUI AG Reg Shs (DI) (TUI) 622.50p 1.55% Baltic Classifieds Group (BCG) 240.00p 1.48%
FTSE 250 - Fallers
Darktrace (DARK) 343.00p -6.46% Trustpilot Group (TRST) 139.40p -6.13% AO World (AO.) 92.95p -5.49% Watches of Switzerland Group (WOSG) 675.50p -4.66% IWG (IWG) 180.70p -4.54% Carnival (CCL) 1,257.50p -4.23% Bytes Technology Group (BYIT) 587.00p -4.08% AJ Bell (AJB) 300.80p -3.90% W.A.G Payment Solutions (WPS) 86.60p -3.78% Coats Group (COA) 74.70p -3.49%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
