January 29, 2018 / 10:06 PM / in 6 months

BRIEF-Noble Energy To Divest A 7.5 Pct Working Interest In Tamar Field

Jan 29 (Reuters) - Noble Energy Inc:

* NOBLE ENERGY ANNOUNCES TAMAR SELL-DOWN

* ‍TOTAL CONSIDERATION OF TRANSACTION IS APPROXIMATELY $800 MILLION​

* TO DIVEST A 7.5 PERCENT WORKING INTEREST IN TAMAR FIELD, OFFSHORE ISRAEL

* ‍COMBINED PROCEEDS FROM BOTH TRANSACTIONS TOTAL NEARLY $1.25 BILLION, INCLUDING ALMOST $1 BILLION IN CASH​

* DEAL FOR CASH PROCEEDS OF APPROXIMATELY $560 MILLION AND 38.5 MILLION SHARES OF TAMAR PETROLEUM

* ‍CASH PROCEEDS FROM TRANSACTION WILL BE UTILIZED TO SUPPORT CAPITAL INVESTMENT IN COMPANY'S LEVIATHAN DEVELOPMENT​

* ‍COMPANY INTENDS TO DIVEST SHARES HELD IN TAMAR PETROLEUM OVER NEXT SEVERAL YEARS​

* NOBLE ENERGY - EXPECTS TO INCUR CAPITAL GAINS TAX OF ABOUT 23 PERCENT, PAID UPON RECEIPT OF CASH CONSIDERATION AT CLOSING & AS SHARES ARE DIVESTED

* ‍A SHAREHOLDER OF TAMAR PETROLEUM, NOBLE ENERGY ANTICIPATES RECEIVING DIVIDEND INCOME​

* EXPECTS TO INCUR CAPITAL GAINS TAX OF ABOUT 23 PERCENT, PAID UPON RECEIPT OF CASH CONSIDERATION AT CLOSING AND AS SHARES ARE DIVESTED​

* MONDAY'S ANNOUNCEMENT ‍FOLLOWS AN INITIAL DIVESTMENT OF 3.5 PERCENT OF TAMAR FIELD IN MID-2016​ Source text for Eikon: Further company coverage:

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