London | ASX-listed mining services company AJ Lucas has doubled down on the troubled British fracking play Cuadrilla Resources, buying out the shale gas explorer's US private equity co-owner Riverstone.
The deal will take AJ Lucas' holding from 47.6 per cent to 93 per cent. The company has offered to buy out the remaining 7 per cent of stock, owned mostly by current and former Cuadrilla employees, on the same terms as its deal with Riverstone.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
