San Antonio Weighs on GP

San Antonio Weighs on GP

Funds

GP Investment’s $1bn purchase in 2007 of San Antonio – the LatAm assets of Pride International – is weighing on the private equity (PE) firm’s business, say Brazil based executives and analysts away from the firm. GP, whose plan for San Antonio involves paying down part of its LBO debt with proceeds from an eventual IPO, is strongly rumored to have sought to sell San Antonio to Eike Batista’s OGX, say local executives not involved in the process. OGX officials avoid comment on the rumor, limitin

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