Energean continues Egypt investment plans despite Carlyle deal collapse
Arab Finance: Energean is still committed to investing in Egypt after the collapse of its deal with Carlyle, CEO Matheos Rigas told Asharq Business, citing regulatory hurdles as the main reason behind the deal termination.
Rigas explained that the deal fell through due to Carlyle's inability to meet regulatory conditions in Italy, where approvals were required to complete the transaction.
Despite the setback, Rigas affirmed Energean's ongoing interest in the Egyptian market
He said the company's immediate focus is on integrating its three existing concessions to boost productivity and cut costs, which will enable them to invest more money.
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