News Formal

Carlyle creates new Mediterranean-focused oil and gas company with US$945-million Energean deal

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 92%

Energy Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

The deal will allow Carlyle to tap into the eastern Mediterranean gas market that has grown rapidly in recent years as gas demand in Egypt soars and Europe seeks alternatives to Russian gas

Carlyle will form a new Mediterranean-focused oil and gas company led by former BP CEO Tony Hayward after the private equity fund agreed to acquire Energean’s assets in Egypt, Italy and Croatia for up to $945-million, the companies said on Thursday.

But it will seek to grow output by upgrading existing assets and through other acquisitions in the Mediterranean, CIEP co-head Bob Maguire told Reuters. Jefferies analysts estimated the net asset value of the resources that Energean is selling to be $1.28-billion, implying a 26 per cent discount in the deal.

Energean’s board expects to redefine its dividend policy following the completion of the deal, which is expected by year-end.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 5. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Carlyle Aviation Tests Rekindled Aircraft ABS Market After Two-Year PauseAfter a two-year absence from the asset-backed securities market, Carlyle Aviation Partners is returning with a bond sale backed by commercial aircraft, a market where issuance could keep climbing as new plane sales come under pressure.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »