Carlyle's $945M Energean Deal Faces Regulatory Snags

Carlyle's acquisition of Energean assets for up to $945 million faces uncertainties due to pending regulatory approvals in Italy and Egypt. Without meeting these conditions by March 2025, the transaction may collapse. Energean CEO Mathios Rigas highlighted the deal's potential termination while affirming Energean's dividend policy amid asset retention considerations.

Efforts for Carlyle's $945 million acquisition of Energean assets are teetering as essential regulatory approvals remain pending. Announced on Monday, the transaction could terminate if conditions aren't met by March 2025, highlighting potential risks in Italy and Egypt.

The deal, initially brokered last June, was intended to establish a new Mediterranean-centered oil and gas firm, namely under former BP CEO Tony Hayward. However, Energean notes an absence of assurance regarding the fulfillment of these stipulations within the Sale and Purchase Agreement's timeline.

Energean's CEO, Mathios Rigas, expressed satisfaction in retaining assets should the deal fall through, mentioning their strategic significance alongside Israeli gas operations. In light of these hurdles, Energean plans to announce its financial outcomes on Thursday, with its dividend policy intact.

(With inputs from agencies.)