Chesapeake has increased its stake in Frac Tech to 30% from 26%, newswire Reuters said, and it will gain a dividend from the buyout.
Chesapeake Energy, an oil and gas provider, has increased its minority investment in Frac Tech Services, a US-based provider of hydraulic fracturing services, after its leveraged buyout.
Singapore state-owned Temasek and private equity firm RRJ Capital have agreed to acquire a 70% stake in Frac Tech for $3.5bn, including by using $1.7bn in debt.
Chesapeake has increased its stake to 30% from 26%, newswire Reuters said, and it will gain a dividend from the buyout.
Chesapeake said in…
