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Article: United States: TPG to Buy Majority Stake in Natural Gas Firm Valerus.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
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Byline: manish03
TPG, the private-equity firm whose investments include the power producer formerly known as TXU Corp., plans to buy a majority stake in natural gas equipment company Valerus Compression Services LP for $500 million.
The purchase will include debt and equity, according to a statement today by Valerus and TPG, based in Fort Worth, Texas. The money will be used to refinance existing debt and pay for expansion at Houston-based Valerus.
Buyout firms including TPG, run by David Bonderman and James Coulter, are reviving dealmaking after a two-year drought triggered by the global credit crisis. TPG and KKR & Co. agreed in 2007 to buy ...