The Carlyle Group to Acquire Sterling Resources’ Subsidiary Midia Resources (CEE and CIS)
Source: The Carlyle Group, Reuters | Author(s): Ron Bousso
Global alternative asset manager The Carlyle Group has agreed to acquire the entire Romanian business of international energy company Sterling Resources in a transaction worth a reported US$43 million and structured as a corporate acquisition of Sterling’s wholly-owned subsidiary Midia Resources. The acquisition will include four license blocks in the Black Sea and will form the basis for a regional oil and gas development platform. The transaction will be structured through Carlyle International Energy Partners, which will also fund future development of the assets.