Finance / United States
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Private Equity Firms Snap Up Canadian Energy Firm
August 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Energy-focused US private equity firms Carlyle Group and Riverstone Holdings have agreed to buy Canadian midstream oil and gas division Hunting Gibson for US$1.22bn. Gibson is a leader in the transportation, marketing, processing and storage of hydrocarbons. It owns and operates 11 oil and 49 propane distribution terminals, an LNG fractionation plant, 290 miles of pipelines and a fleet of over 1,180 trailers. Gibson was sold by one of the UK's leading oil and gas services companies, Hunting. The divestiture leaves Hunting free to focus on their other division, Hunting Energy, an oil field services firm involved in well