UK firm Arle Capital eyes sale or listing of oil business -report

By VCPOST Staff Reporter

Jan 06, 2014 09:25 PM EST

Private equity firm Arle Capital Partners is planning either to float or sell Expro, its British oil services company, according to insiders cited by Sky News. Arle targeted this year for the planned sale or listing, wrote Reuters.

Arle manages the residual investments of private equity investment trust Candover, together with Goldman Sachs' private equity arm and Dutch firm Alpinvest, which is another owner of Expro. According to Sky News, Arle has appointed Goldman and Deutsche Bank to evaluate its exit options, the report detailed.

Sky also said the investors in Expro have yet to decide on the official timetable for the transaction. Analysts say Expro is worth at least £3 billion ($4.92 billion), the report said.

Expro was bought by Candover, Alpinvest and Goldman in 2008 after an intense bidding tussle with US competitor Halliburton, the report added.

Established in Great Yarmouth in 1973, Expro is a company that provides various oil and gas well management services in 50 countries, the report stated.

Expro, Alpinvest, Goldman, and Arle have yet to comment on this news, Reuters reported.

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