Jan 6 Private equity group Arle Capital Partners
is planning to either sell or float British oil services company
Expro as soon as this year, Sky News reported, citing insiders.
Arle, which manages the residual investments of Candover,
along with the private equity arm of Goldman Sachs and Dutch
private equity house Alpinvest, which also own Expro, have
appointed Goldman and Deutsche Bank to evaluate exit options,
the broadcaster said on its website on Monday. ()
Investors in Expro, which is worth at least 3 billion pounds
($4.92 billion) according to analysts, are yet to decide a
formal timetable for the deal, Sky added.
Candover, Goldman and Alpinvest bought Expro in 2008 after
an intense bidding war with U.S. rival Halliburton.
Set up in Great Yarmouth in 1973, Expro provides a range of
oil and gas well management services across 50 countries.
Expro, Arle, Alpinvest and Goldman were not available for
comment outside regular business hours.