We show that the spectrum of the unusual transient SCP 06F6 is consistent with emission from a cool , optically thick and carbon-rich atmosphere if the transient is located at a redshift of z \approx 0.14 .
The implied extragalactic nature of the transient rules out novae , shell flashes , and V838 Mon-like events as cause of the observed brightening .
The distance to SCP 06F6 implies a peak magnitude of M _ { I } \simeq - 18 , in the regime of supernovae .
While the morphology of the light curve of SCP 06F6 around the peak in brightness resembles the slowly evolving Type IIn supernovae SN 1994Y and SN 2006 gy its spectroscopic appearence differs from all previous observed supernovae .
We further report the detection of an X-ray source co-incident with SCP 06F6 in a target of opportunity XMM-Newton observation made during the declining phase of the transient .
The X-ray luminosity of L _ { \mathrm { X } } \simeq ( 5 \pm 1 ) \times 10 ^ { 42 } \mathrm { ergs s ^ { -1 } } is two orders of magnitude higher than observed to date from supernovae .
If related to a supernova event , SCP 06F6 may define a new class .
An alternative , though less likely , scenario is the tidal disruption of a carbon-rich star .