Graphite Enterprise disposes of Dominion Gas
London-listed private equity investment trust Graphite Enterprise Trust has announced that Graphite Capital Partners VI has sold its investment in Aberdeen-based oilfield services company Dominion Gas.
London-listed private equity investment trust Graphite Enterprise Trust has announced that Graphite Capital Partners VI has sold its investment in Aberdeen-based oilfield services company Dominion Gas.
The group said that Dominion was the company's 11th largest underlying investment on January 31st 2013.
Graphite VI, which is managed by Graphite Capital, sold Dominion to Praxair, the New York-listed industrial gases group, having backed a management buy-out in May 2007.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group said that the exit price represented an uplift of 44% to the carrying value of the investment at January 31st.
Taken in isolation, Graphite Enterprise Trust said that the effect would be to increase the company's net asset value per share by 3.3p to 634.7p, or by 0.5% compared with that at January 31st.
The company said that it expected to receive a distribution in excess of £7.0m from Graphite VI within the next few weeks.
Graphite Enterprise Trust's share price was down 0.60% to 494p at 13:47 on Wednesday.
MF
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Cash in on the growth prospects of Europe's companies
Opinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
By Marcel Stotzel Published
-
Is the AI boom another dotcom bubble?
25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
By Dan McEvoy Published