Carlyle's Lukoil Deal Expires, Ending Pursuit of Russian Assets
CG is trading near its 52-week low of $37.08 (1.9% above the low).
Summary
Carlyle confirmed its agreement to buy most of Lukoil's international assets has expired and it is no longer actively pursuing the deal. This follows a September 21 report that the deal had stalled. The expiration removes a potential acquisition from Carlyle's pipeline, though the assets were already idle and the deal had faced competition from a Todd Boehly-led consortium. The news is a modest negative for Carlyle, as it loses a potential energy investment, but the deal was not yet reflected in earnings and the company's core fee-related earnings remain strong.
At the time of this announcement, CG was trading at $37.80 on NASDAQ in the Finance sector, with a market capitalization of approximately $13.7B. The 52-week trading range was $37.08 to $67.30. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.