An offshore equipment company part owned by billionaire George Kaiser is set to be sold to industry heavyweight Halliburton.
Reuters reported today that Houston-based Halliburton is in final stage talks to buy pump maker Summit ESP.
Kaiser, best known in shipping as the owner of LNG specialist Excelerate Energy, financed Summit ESP via his Argonaut Private Equity investment firm.
According to Reuters, the Summit ESP business is worth $5bn per year worldwide.
