{"id":662472,"date":"2025-03-17T00:00:00","date_gmt":"2025-03-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/17\/outstanding-regulatory-approvals-threaten-egyptian-asset-sale\/"},"modified":"2025-03-17T00:00:00","modified_gmt":"2025-03-17T00:00:00","slug":"outstanding-regulatory-approvals-threaten-egyptian-asset-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/17\/outstanding-regulatory-approvals-threaten-egyptian-asset-sale\/","title":{"rendered":"Outstanding regulatory approvals threaten Egyptian asset sale"},"content":{"rendered":"

Good afternoon, friends.<\/strong> We\u2019re gearing up for brisker weather, but the newsroom is showing no sign of cooling down, with reports of asset sales (or lack thereof), dwindling teen interest in education, and Trump\u2019s plan to discuss an end to the war in Ukraine with Putin tomorrow.<\/p>\n

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THE BIG STORY TODAY-<\/p>\n

Energean\u2019s USD 945 mn asset sale to Carlyle is at risk of being scrapped:<\/strong> LSE-listed oil and gas company Energean\u2019s USD 945 mn agreement to offload Egyptian and other assets to global investment firm Carlyle is at risk of falling through as some regulatory approvals remain outstanding just days before the sale\u2019s 20 March deadline, according to a company statement (pdf)<\/a>. With no agreement reached to extend the longstop date stipulated in the sale and purchase agreement, Energean warned that the agreement could be terminated.<\/p>\n

REMEMBER-<\/strong> Energean inked an agreement<\/a> with Carlyle in June to sell its assets in Egypt, Italy, and Croatia for up to USD 945 mn, expecting the sale to go through by the end of 2024. The acquisition would allow Carlyle to form a new Mediterranean-focused oil and gas company chaired by former BP CEO Tony Hayward.<\/p>\n

Loose ends to be tied:<\/strong> Carlyle has yet to secure regulatory clearances in Italy and Egypt as well as antitrust approvals across multiple jurisdictions.<\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

It\u2019s once again all eyes on the latest in Trumpland as the foreign press takes note of <\/strong>Trump\u2019s planned conversation with Putin tomorrow: <\/strong>US President Donald Trump is set to speak<\/a> to Russian President Vladimir Putin on Tuesday about bringing an end to the war in Ukraine as he looks to secure Russia\u2019s backing for a 30-day ceasefire plan<\/a> that Kyiv agreed to last week. Trump said the discussion would involve concessions on \u201cdividing up certain assets,\u201d including land and power plants. Russian Deputy Foreign Minister Alexander Grushko told Russian outlet Izvestia<\/a> today that Moscow would need \u201cironclad security guarantees\u201d to ensure Ukraine\u2019s exclusion from NATO in any peace deal.<\/p>\n

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