PE-backed Niska completes equity restructuring

Niska Gas Storage Partners LLC, an owner and operator of natural gas storage with offices in Calgary, Alberta and Houston, Texas, recently completed an equity restructuring with private equity backer Carlyle/Riverstone Energy Holdings. As a result of the restructuring, Carlyle/Riverstone's ownership of the company (excluding previous and new incentive distribution rights) decreased from 74.9% to 50.3%. Carlyle/Riverstone acquired Niska, formerly a division of EnCana Corp. for $1.7 billion in 2006.

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