Carlyle Group (CG) has agreed to sell Colombian oil producer SierraCol Energy to Prime Infrastructure Capital for an undisclosed amount, media outlets reported Wednesday.
According to the reports, Carlyle is seeking about $1.5 billion for the business. The company has invested about $1 billion in SierraCol since 2020, after acquiring assets from Occidental Petroleum (OXY) to stabilize production and reduce emissions.
Prime Infrastructure is led by Filipino businessman Enrique Razon Jr.
Carlyle did not immediately respond to MT Newswires' request for comment.
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