Yorktown Partners plans to sell Egypt-focused oil and gas producer Merlon International

M&A WATCH- New York-based private equity firm Yorktown Partners is planning to sell its Egypt-focused oil and gas producer Merlon International to raise USD 400 mn, banking sources tell Reuters. Citigroup is managing the process, which is expected to be finalized by July. All of Merlon’s oil and gas assets are located within the Fayoum concession in the Western Desert, where it produced 7,900 bbl/d of oil equivalent last year from more than 50 wells.