Lionheart Holdings signs LOI to merge with KEO Energy at $400 million valuation
CUB•KEO Energy asset base and closing terms
KEO Energy’s main asset is an indirect stake in a joint venture tied to Venezuela’s PetroUrdaneta Project.
A definitive agreement is targeted for Aug. 17, 2026, with closing conditions including audited financials and shareholder votes.
Post-close, the board is expected to have six directors. Paolo Fidanza is slated as executive chairman, with Lionheart naming a vice chairman.
LOI outlines proposed merger with KEO Energy
Lionheart Holdings signed a non-binding LOI on July 15 for a business combination with KEO Energy, targeting a Nasdaq Capital Market listing.
The LOI sets a preliminary indicative pre-money enterprise value of $400 million for KEO Energy, subject to diligence and Venezuelan fiscal terms.
