LONDON - Private equity giant Carlyle Group ( CG ) has sold its majority holdings in Tunisia-focused oil and gas producer Mazarine Energy to the company's CEO Edward van Kersbergen, Mazarine said on Thursday.

Carlyle International Energy Partners, the fund's non-U.S. energy investment arm, invested in Mazarine in 2016 as one of several of the fund's investments in oil and gas companies following the 2014 oil price crash. Private equity firm Ramphastos will also sell its stake in Mazarine to van Kersbergen.

"The transaction underscores Edward van Kersbergen's deep commitment to the long-term success of Mazarine and sets the stage for the company's continued expansion across Europe and Africa," Mazarine said.

The company, which operates in Tunisia and Romania, did not disclose the terms of the deal.

Carlyle in recent years sold several of its investments including North Sea producer Neptune Energy and Gabon-focused Assla Energy.