Investing.com -- Energean, a gas producer based in the UK, announced on Friday that it is ending a deal with private equity fund Carlyle for the sale of some of its assets.
This decision was due to delays in securing regulatory approvals in Italy and Egypt.
In a statement, the company explained that the two parties couldn’t reach an agreement to extend the long-stop date beyond March 20, a necessary step to fulfill the conditions of the agreement.
Energean’s assets sale to Carlyle was contingent on receiving the necessary regulatory approvals, but the process has been delayed in both Italy and Egypt, leading to the termination of the deal.
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