Business

£200m deal for 3i to sell oil services firm RBG

11 April 2012

Private equity firm 3i has struck a £200 million deal to sell its oil services firm RBG to rival Montagu.

3i, which owns 39.5% of the Scottish company, said the deal had not been finalised but that Montagu had "exclusivity" to buy.

The firm has hired KPMG to sell the business, the Daily Telegraph reported.

3i recently agreed to sell German gas and diesel engine maker MWM to Caterpillar and it is also preparing German flexible joints maker Norma Group for a stock market listing but could sell the business. It was not immediately reachable for comment.

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