Carlyle's Acquisition of Energean Assets Faces Regulatory Hurdles

Carlyle's acquisition of Energean assets worth up to $945 million could falter due to pending regulatory approvals in Italy and Egypt. While Carlyle strives to meet conditions, the deal's termination looms if obstacles persist. Energean may retain its diverse energy assets, producing 40,000 barrels per day.

Carlyle's ambitious plan to acquire Energean's assets, valued at up to $945 million, is jeopardized by unmet regulatory approval in Italy and Egypt, as reported by Energean on Monday. The transaction, initially agreed upon last June, aimed to set up a new Mediterranean oil and gas company.

The unresolved regulatory issues pertain to Energean's assets in Italy and Egypt, for which required clearances have not been secured by Carlyle. With a deadline looming, Energean expressed uncertainty over meeting the agreement terms by March 20, 2025, raising concerns about the deal's completion.

Energean CEO Mathios Rigas remarked on the potential structural issues, highlighting the importance of these assets, which generate 40,000 barrels daily. Energean remains prepared to retain ownership if the deal falls through, ensuring continuity in its diverse energy portfolio.

(With inputs from agencies.)