White & Case has advised Energean on its divestment of its Egypt, Italy, and Croatia exploration and production assets to an entity controlled by Carlyle International Energy Partners for an enterprise value of up to USD 945 million.
The transaction remains contingent on regulatory approval.
According to White & Case, "the sale enables Energean to rationalize its portfolio and focus on its gas-weighted development strategy in Israel and Morocco. It will also free up capacity and capital to invest in new projects across EMEA and accelerate Energean's decarbonization efforts whereby post-close its scope 1 and 2 emissions intensity will reduce by around 40% to approximately 5 kilograms of CO2 per barrel of oil equivalent. This is in addition to the company's focus on creating a Carbon Storage Hub in Greece and the wider Mediterranean region via its EnEarth subsidiary."
In 2023, White & Case advised on the sale of Meopta to Carlyle (as reported by CEE Legal Matters on June 6, 2023).
The White & Case team included lawyers in London, Cairo, and Milan.
White & Case did not respond to our inquiry on the matter.
