Energean Sells Assets in Egypt, Italy, and Croatia to Carlyle for Up to $945 Million

Greek energy company Energean has announced an agreement to sell its assets in Egypt, Italy, and Croatia to Carlyle International Energy Partners. The deal is valued between $820 million (€763 million) and $945 million (€880 million).

Energean, listed on the London and Tel Aviv stock exchanges, highlighted that the sale price significantly exceeds the $284 million cost of acquiring these assets from Edison in 2020.

This transaction will provide Energean with ample liquidity to fully repay its $450 million corporate bond and enable the payment of an extraordinary dividend of up to $200 million to its shareholders. Additionally, this move allows Energean to concentrate on its natural gas-focused development strategy, which includes the Karish and Karish North fields in Israel and the recently acquired Anchois field in Morocco.

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