We value the acquired assets at US$160m (NPV10, March 2013), against a purchase price of US$42.5m. The acquisition of an attractive upstream development opportunity from a company that is financially stretched is ideal for a PE firm with ample funding and existing expertise in the E&P industry. We expect that Carlyle will push the Ana & Doina development through planning and permitting, and could potentially invest up to US$400m by 2020 taking it through to production.
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Sterling Resources sells its Romanian operations to Carlyle Group for US$42.5 million PDF - 302.91 KB 6 Pages, 7 Tables, 0 Figures
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Deal insight | Mar 2015
Sterling Resources sells its Romanian operations to Carlyle Group for US$42.5 million
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