Conglomerate MK Group has agreed to purchase Serbian edible oils manufacturer Dijamant from Croatia’s Fortenova Group. The deal was announced in individual statements yesterday (27 January) from MK Group and Fortenova, which said the disposal of Dijamant "marks our exit from the agricultural industry and the edible oil industry". Financial terms were not disclosed, while the transaction remains subject to regulatory competition approvals. According to Fortenova's website, Dijamant is the “leader” in th ...

Core Viewpoint - Baytex Energy has successfully completed the sale of its US Eagle Ford assets for $2.14 billion, which will enhance its financial position and allow for a greater focus on its Canadian energy operations [1][2]. Financial Impact - The proceeds from the sale will be used to pay down outstanding credit facilities and redeem 8.5% Senior Notes due 2030, as well as fund a cash tender offer for $575 million of 7.37% Senior Notes due 2032 [1][2]. Strategic Focus - The sale is part of Baytex's broader strategy to optimize its portfolio, allowing the company to concentrate on high-return Canadian energy projects, particularly in heavy oil and the Pembina Duvernay area [2][3]. Production and Growth - Baytex's Canadian portfolio includes over 2,200 drilling locations, supporting an annual production growth target of 3-5% at $60-65 per barrel WTI [3]. - The company reported production of 65,000 barrels of oil equivalent per day (boepd) for the first nine months of 2025, marking a 5% increase compared to 2024, excluding non-core asset sales [4]. Pembina Duvernay Development - In the Pembina Duvernay area, Baytex has secured 91,500 net acres and identified approximately 212 drilling locations, with plans to implement a single-rig drilling program targeting 18 to 20 wells annually [5]. - The company aims to achieve production levels of 20,000 to 25,000 boepd in this area by 2029 to 2030 [5]. Recent Acquisitions - In 2023, Baytex Energy signed an agreement to acquire US-based Ranger Oil for approximately $2.5 billion, including debt, further expanding its operational footprint [6].