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  1. Carlyle Group commits up to $500 mn to India-focused Magna Energy

Carlyle Group commits up to $500 mn to India-focused Magna Energy

Carlyle Group has committed to invest up to $500 million in Magna Energy Ltd, an India-focused upstream oil and gas company, the global private equity firm said in a statement on Monday.

By: | Published: June 22, 2015 11:17 AM
Carlyle Group

The buyout shop is making the investment through its unit Carlyle International Energy Partners, a fund that focuses on oil and gas exploration and production. (Photo: Screen grab from Carlyle ‘s website)

Carlyle Group has committed to invest up to $500 million in Magna Energy Ltd, an India-focused upstream oil and gas company, the global private equity firm said in a statement on Monday.

Led by Mike Watts and Jann Brown who have a combined 60 years of oil industry experience, Magna Energy is seeking to become a full-cycle oil and gas company through acquisitions and securing local licences in the Indian sub-continent. It will have a primary focus on development and production.

The buyout shop is making the investment through its unit Carlyle International Energy Partners, a fund that focuses on oil and gas exploration and production.

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