Gabon seeks to preempt $1.3 bln sale of Carlyle's oil business
Business
Gabon seeks to preempt $1.3 bln sale of Carlyle's oil business
LONDON (Reuters) - Gabon's national oil firm is seeking to use its right of first refusal to acquire Carlyle's (CG.O) Assala Energy after the private equity giant agreed to sell the business for $1.3 billion to France's Maurel & Prom, three sources told Reuters.
Gabon Oil Company (GOC) last week sent Carlyle International Energy Partners (CIEP) a letter informing it wanted to preempt Maurel & Prom's (MAUP.PA) deal, exercising a right it has under local law, three sources close to the deal said.
GOC has held talks with at least two international trading houses to finance the deal, but so far no financing plan has been agreed, the sources said.
GOC and a government spokesperson did not respond to requests for comment. Maurel & Prom did not respond to a request for comment. Carlyle declined to comment.
Maurel & Prom agreed in August to acquire Assala Energy for $730 million, a deal which included rolling over a $600 million credit facility.
The current deal is expected to be completed early next year.
