Gabon Will Buy Carlyle’s Oil Business, Preempting Sale for $1.3 Billion

Gabon’s national oil company has agreed to acquire Carlyle’s Assala Energy after it used its right to preempt the sale of the business for $1.3 billion to France’s Maurel & Prom, the firms said on Friday.

Maurel & Prom had agreed in August to acquire Assala Energy for $730 million, a deal which also included rolling over a $600 million credit facility.

But following a military coup in the west African country in late August, the Gabonese national oil firm sought to exercise its preemptive right on the acquisition in November.

Read the source article at U.S. News