Transaction Summary
The Carlyle Group, through its non-U.S. energy investment arm, Carlyle International Energy Partners (CIEP), and Ramphastos Investments, have completed an agreement to sell their stakes in Mazarine Energy, a Tunisia-focused oil and gas producer, to the company’s CEO Edward van Kersbergen. Mazarine, founded in 2013, specialises in oil and gas exploration, primarily in Tunisia and Romania. Carlyle invested $500 million in the company in 2016 as part of its strategy to capitalise on opportunities in the oil and gas sector following the 2014 decline in oil prices. However, this sale reflects Carlyle's desire to shed some of its heavy carbon assets in favour of investments that align with the global transition towards low-carbon energy sources. For Ramphastos Investments, a Dutch private equity firm, Mazarine was its first African investment, which was made in 2013. The sale to van Kersbergen highlights his commitment to Mazarine’s long-term growth, particularly as he seeks
