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Riverstone to acquire Gibson Energy for CAN$1.1bn06/08/2008. Source: AltAssets. 
 Energy and power-focused private equity firm Riverstone has agreed to acquire Canadian midstream oil and gas company Gibson Energy Holdings from UK-listed energy services group Hunting for CAN$1.1bn (£538m).
The board of directors of Hunting has approved the agreement and will recommend it to shareholders, according to a statement.
Gibson consists of five business divisions including Terminals and Pipelines, Truck Transportation, Marketing, Moose Jaw Processing and Wellsite Fluids, and Propane Marketing and Distribution (Canwest).
Andrew W Ward, managing director of Riverstone, said, 'We are pleased to enter into the agreement to acquire Gibson. With strategic assets and infrastructure located in the heart of the Western Canadian oil and gas producing region, coupled with a history spanning over 50 years as an established midstream operator, we believe that Gibson is well positioned to continue delivering quality service with leading safety records while expanding its reach and breadth.'
Riverstone has approximately $14.8bn under management.
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