Carlyle deal to buy Energean assets at risk of collapsing
The two companies reached an agreement last June which would allow private equity fund Carlyle to form a new Mediterranean-focused oil and gas company led by former BP (BP.L), opens new tab CEO Tony Hayward on the basis of Energean assets in Egypt, Italy and Croatia.
"Certain regulatory approvals in Italy and Egypt have not yet been obtained by Carlyle (or waived) and the Company has no assurance that such conditions will be satisfied on or before 20 March 2025 in accordance with the terms of the binding Sale and Purchase Agreement," Energean said.
It added that no extension has yet been agreed upon.
"Therefore, (absent an extension being agreed) the transaction may be terminated."
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