Energean to sell Med oil and gas assets to Carlyle for up to $945 million

By Ron Bousso

LONDON (Reuters) -Energean has agreed to sell its assets in Egypt, Italy and Croatia to private equity fund Carlyle for up to $945 million, the Mediterranean-focused oil and gas producer said on Thursday.

The deal will include a cash payment of $504 million which will allow the London-listed company to pay a special dividend of $200 million as well as repay in full a $450 million corporate bond.

Carlyle International Energy Partners, the fund's non-U.S. energy investment arm, said it will establish a new company which will seek further acquisitions in the Mediterranean and will be led by former BP CEO Tony Hayward.

Energean CEO Mathios Rigas said the sale will allow the company to focus on its main gas producing facility offshore Israel and its exploration activity in Morocco.