Deals

Carlyle’s Gabon Asset Sale At Risk as Junta Decides to Take Over

Maurel & Prom had expected Gabon to approve Assala acquisition
Gabon’s government was overturned in a putsch four months ago

Oil pipelines in Gamba, Gabon.
Photographer: Guillem Sartorio/Bloomberg

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By Baudelaire Mieu and Katarina Hoije

January 2, 2024 at 3:59 PM UTC

This article is for subscribers only.

Gabon plans to buy an oil company owned by The Carlyle Group Inc. by taking advantage of its right to increase its stake as an existing shareholder of the firm that pumps crude from the central African nation.

The government’s move threatens Etablissements Maurel & Prom SA’s agreement to buy Assala Energy from Carlyle for $730 million. This comes four months after Gabon’s leadership changed in a military coup.