Energean Terminates Agreement With Carlyle For Sales Of Portfolios In Egypt, Italy And Croatia

(RTTNews) - Energean plc (ENOG.L), an international hydrocarbon exploration and production company, on Friday said it has terminated the agreement with Carlyle for the sale of Egypt, Italy and Croatia portfolios.

As of the deadline of March 20, certain regulatory approvals in Italy and Egypt were not obtained by Carlyle in accordance with the terms of the binding Sale and Purchase Agreement signed on 19 June 2024, Energean said in a statement.

In addition, Energean could not reach agreement with Carlyle to extend the longstop date beyond 20.

Energean will provide an update in its May Trading Statement & Operational Update. It will include revised 2025 production and financial forecasts for Egypt, Italy, and Croatia, a strategy update for these assets, and a new dividend policy.

Thursday, Energean had closed 0.12% higher at 841.50 pence on the London Stock Exchange.