KEY POINTS
- Carlyle sold its stake in Mazarine Energy to the CEO.
- Ramphastos also divested its Mazarine shares to van Kersbergen.
- Mazarine plans continued growth across Europe and Africa
Carlyle Group announced Thursday that it has sold its majority stake in Tunisia-focused oil and gas producer Mazarine Energy to the company’s CEO, Edward van Kersbergen, marking a shift in ownership and strategic direction for the energy firm.
Carlyle sells its stake in Tunisia-focused Mazarine Energy
The sale includes Carlyle International Energy Partners, Carlyle’s non-U.S. energy investment arm, which first invested in Mazarine in 2016. This investment came as part of a broader strategy following the 2014 oil price crash, aimed at supporting energy firms in recovering markets.
Reuters stated that Ramphastos Investments, a private equity firm holding a minority stake in Mazarine, will also divest its shares to van Kersbergen, solidifying his position as the principal stakeholder. “The transaction underscores Edward van Kersbergen’s deep commitment to the long-term success of Mazarine and sets the stage for the company’s continued expansion across Europe and Africa,” Mazarine said in a statement.
Mazarine, which operates oil and gas assets in Tunisia and Romania, declined to disclose the financial terms of the deal. The sale aligns with a recent trend among private equity firms like Carlyle, which are shifting away from fossil fuel investments as the energy market faces pressure to transition toward renewables. Carlyle has recently divested from other oil and gas holdings, including North Sea producer Neptune Energy and Gabon-based Assala Energy, as it recalibrates its investment strategy to align with market and regulatory trends emphasizing environmental, social, and governance (ESG) factors.
Carlyle pivots from fossil fuels amid energy market shifts
For Carlyle, the sale reflects a broader strategic realignment in response to fluctuating oil prices and heightened scrutiny on fossil fuel investments. The firm’s shift underscores an industry-wide reorientation as energy companies balance traditional oil and gas assets with an increasing push for sustainable energy investments.
With full control, van Kersbergen is expected to steer Mazarine toward continued development of its existing assets in North Africa and Europe. His acquisition of majority ownership could also allow the company greater flexibility to pursue opportunities in a shifting energy landscape. Mazarine’s focus remains on exploring and producing oil and gas, positioning itself for growth while responding to the evolving dynamics of the global energy market.
