Candover bids US$3.15bn for Expro

Expro International Group said it has received a 1,435 pence (US$28.30) a share all-cash bid from a consortium led by Candover Partners, valuing the UK energy services group at over £1.6bn (US$3.15bn).

Candover launched the bid through Umbrellastream, which also consists of Goldman Sachs and AlpInvest Partners. Independent directors of Expro backed the bid which they found to be “fair and reasonable”.