United Energy To Buy Kuwait Energy For $651 Million

United Energy Group said on Sept. 24 it would buy Kuwait Energy for up to $651 million as the Hong Kong-listed upstream oil and gas company aims to enter the Middle East and North Africa markets.

The deal will transform United Energy into a medium-sized international independent oil and gas company with a diversified portfolio of assets, while further expanding its development potential, it said in a filing to the Hong Kong stock exchange.