Russian Alfa to acquire stake in Regal Petroleum

A1, the investment unit of Russian Alfa Group, announced it will acquire a 28.6% stake in London-listed Regal Petroleum (RPT LN) from the stake’s current owner, the CIS Natural Resources Fund, Interfax reported on Dec. 14. The deal might be closed by the year’s end, according to Mikhail Khabarov, A1’s president. The transaction’s value was not disclosed.

Roman Dmytrenko: Friday’s rally in Regal’s shares values the company at USD 132.7 mln, which might be unjustified considering that Regal is currently trading at a 70% premium to its major peer, JKX Oil&Gas, based on EV/2012-exit daily production.