CAIRO: Leading private equity company Citadel Capital has reached an agreement to sell its 100 percent stake in National Petroleum Company Egypt (NPC Egypt) to Sea Dragon Energy, a Calgary-based exploration and development firm for $147.5 million. The sales agreement is the first of several transactions that will see Citadel Capital rationalise its portfolio by divesting non-core assets; offers significant upside potential to both the company and its limited partners. Golden Crescent Investments, a Citadel Capital Opportunity-Specific Fund, had this week signed the share purchase agreement for the NPC deal. Under the terms of the deal, Sea Dragon will pay cash and share consideration equal to $147.5 million – comprising $60 million in cash and 350 million of its common shares – to Golden Crescent at the closing of the transaction at a deemed price of $0.25 per share, the Citadel Capital said in a statement. BM ShortURL: http://goo.gl/si4Gw Tags: Citadel Capital, Energy Section: Business, Egypt