Latham Helps Riverstone With Gibson Stake Reduction

Law360, New York (October 19, 2011, 7:35 PM EDT) -- Private equity firm Riverstone Holdings LLC has agreed to sell 15 percent of its stake in Canadian fuel provider Gibson Energy Inc. in a secondary share offering worth $249 million, it said Tuesday.

The sale of Riverstone's 14,000,000 common shares at $17.77 per share would reduce the firm's stake in Gibson from 62 percent to 47 percent, the private equity firm said in a statement.

Riverstone's move comes after midstream energy company Gibson completed a public offering in June with a listing on the Toronto Stock Exchange. The company...
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