Riverstone is planning USD 900 million sale of Abaco Energy

Riverstone Holdings LLC has plans to sell oilfield services equipment company Abaco Energy Technologies in a sale which could earn approximately USD 900 millon.

Photo: /ritzau/AP/Leo Correa

Riverstone Holdings LLC is preparing to sell oilfield services equipment company Abaco Energy Technologies, which could fetch about USD 900 million, according to people with knowledge of the matter.

The private equity firm is working with an adviser to run an auction for the Houston-based company, said the people, who asked to not be identified because they weren’t authorized to speak publicly. Abaco is drawing interest from other private equity firms, they said.

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