Dana Gas has sold its Egypt’s onshore gas and condensate assets to Texas-based IPR Energy in a deal worth $236 million that will enable the Abu Dhabi-listed company to repay Islamic sukuk bonds maturing at the end of October.

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Dana will receive $153 million in cash and as much as $83 million in contingent payments for the sale, which fell far short of a hoped-for price tag of $500 million when the assets were put on sale last year.