PAI Partners is exploring a potential sale of M Group Services, a U.K.-based infrastructure services firm that could be valued at about $2bn, according to people familiar with the matter.
The private equity group is working with Citigroup Inc. to evaluate options including an exit of M Group, the people said, asking not to be identified discussing confidential information.
PAI acquired M Group from private equity firm First Reserve in 2018. A sale of the asset would quickly follow PAI’s disposal last month of a majority stake in bottling company Refresco to rival KKR & Co. in a deal valued at about $8 billion.
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