Reported 8 months ago
Private equity fund Carlyle has agreed to purchase Energean's oil and gas assets in Egypt, Italy, and Croatia for up to $945 million, forming a new company in the Mediterranean led by former BP CEO Tony Hayward. The deal aims to capitalize on the growing gas market in the region, with plans to expand production and seek further acquisitions. Energean will reposition its focus on the wider Europe, Middle East, and Africa region following the sale, which includes a cash payment, special dividend, and bond repayment.
Source: YAHOO