Energean has terminated the asset sale agreement with Carlyle due to regulatory delays.

Energean, a UK-based gas producer, announced on Friday that it has terminated its agreement to sell certain assets to private equity firm Carlyle. This decision was prompted by delays in obtaining regulatory approvals in Italy and Egypt.

In its statement, the company noted that both parties were unable to agree on extending the deadline for fulfilling the terms of the agreement beyond March 20. The sale of Energean's assets to Carlyle was contingent upon obtaining the necessary regulatory approvals. However, delays in both Italy and Egypt led to the termination of the agreement.