In June 2024, Energean (Tase: Enog; LSE: ENOG), which carries the rights of Karish and Tanin reserves in Israeli waters, announced the sale of the assets portfolio in Egypt, Italy and Croatia to Carlyle International Energy Partners. Now, due to the organizational problems of buyers, the deal is subject to cancellation. Energean share price decreased by 7 % in Tel Aviv in the aftermath of the advertisement.
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The concerned assets and active gas tanks are developed. In the original announcement of sale, its value was worth $ 820-940 million, and it represents a three-fold profit for the company's investment in 2020, when it paid $ 284 million. The profit is allocated to the deal to buy new assets abroad, not related to the Israeli market.
“Although the necessary regulatory approvals have not yet been obtained by Carlel, we are still committed to closing the transaction. These are high -quality, varied assets, with scale assets, taking into account, the transaction does not imagine, by compulsion, and growth,” says the stock exchange notification, says CEO CEO, we are still committed to closing the transaction.
The deadline for completing the deal is March 20. Energean says he was unable to extend the deadline.
The organizational problem is that the entity through which Carlal was to buy new gas fields, with no financial history, and Carlisle was unable to persuade the Italian organizer that it could support it financially, and therefore did not obtain approval to buy.
It was published by Globes, Israel Business News – En.globles.co.il – on March 17, 2025.
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