Kosmos Weighing IPO
Sep 3rd 2010 10:20AM
Updated Sep 3rd 2010 10:23AM
Kosmos Energy is reportedly considering launching an IPO in either the U.S. or U.K., which could carry a value of $5 billion, according to a Reuters report. The independent oil and gas production giant is weighing such a move after efforts to sell its stake in the West African offshore oilfield Jubilee hit a snag.
Kosmos had reportedly entered an arrangement to sell its stake to Exxon Mobil (XOM) for $4 billion, until it hit resistance from the West African government. As a result of that failed deal, Kosmos' private equity investors Warburg Pincus and the Blackstone Group began looking at other options, the report noted.