Carlyle Group Setting Their Sights on Galp?

The Portugal News 24jan03

[More on The Carlyle Group]

It emerged this week that the American-based company, the Carlyle Group, is close to buying into Portuguese energy company Galp.

The Carlyle Group is headed by Frank Carlucci, post-April 25 Ambassador to Portugal for the United States. He is also involved in several real estate deals in Portugal through the company Euroamer.

It was revealed that Frank Carlucci had held meetings with Prime Minister Durão Barroso and Galp chairman António Meixa at the end of last year, where among other issues, Galp’s strategy with regards to Iraq was outlined along with the possibility of the Carlyle Group forming a strategic partnership with the Portuguese fuel company.

At the time of going to press, no official announcement had been made regarding the position of the Portuguese government, Galp or the Carlyle Group.

BUSINESS - 24/01/2003

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