Energean Pulls Sale of Egypt and Italy Assets to Carlyle (1)

Energean Plc terminated a deal to sell natural gas assets in Egypt, Italy and Croatia to a unit of Carlyle Group Inc,a blow for the US private equity firm’s plans to expand in the Mediterranean market.

Certain regulatory approvals in Italy and Egypt weren’t obtained by Carlyle by Thursday’s deadline, and Energean was unable to reach an agreement on an extension, it said Friday in a statement. Energean’s shares fell as much as 2.3% at the start of trading in London, but recovered to rise 2.7% as of 8:29 a.m. local time.

The stock is still headed for ...