Blackstone weighs $5 billion sale of Beacon Offshore, source says
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Signage is seen at the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon
Jan 20 (Reuters) - Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico, for more than $5 billion, a source familiar with the matter said on Tuesday.
Earlier in the day, Bloomberg News reported that Blackstone has begun early discussions with investment banks about a potential initial public offering of the Houston-based company as soon as the first quarter.
The company is expected to attract interest from major Gulf of Mexico producers, the report said.
(Reporting by Katha Kalia in Bengaluru)
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