Deals
An Energy Company Once Worth a Billion Dollars Is Putting Itself Up for Sale
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Niska Gas Storage Partners LLC, the natural gas-storage company whose value has collapsed as energy prices slumped, is exploring a sale.
Niska, controlled by private equity funds Riverstone Holdings and Carlyle Group LP, is working with Evercore Partners Inc. to find a buyer, according to a statement Wednesday. The sale is part of a broader restructuring effort that’s come as Niska struggles to revive its prospects amid a natural gas glut. In February, the company ceased distributions to shareholders to preserve cash.