Energean: the sale of a portfolio called into question

(CercleFinance.com) - British energy group Energean Plc has announced bad news concerning the sale of its assets in Egypt, Italy and Croatia to an entity controlled by Carlyle International Energy Partners.
Although the transaction, which closed on June 19, 2024, appeared to be well underway, it is now stalled by the absence of certain regulatory approvals in Italy and Egypt.

The March 20, 2025 deadline is fast approaching, and no agreement has yet been reached between Energean and Carlyle to extend this deadline. Without these administrative approvals, the sale could be cancelled in accordance with the terms of the contract.

Faced with this uncertainty, Energean remains committed to finalizing the transaction, which could bring in $945 million. However, the Group is ready to explore other options should the initial project fail.

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