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Oil's Well, For Now

The energy sector is attracting waves of buyers, but how will it end?


By Kelly Holman

May 19, 2008

GSC Acquisition Co.'s purchase of Complete Energy for $1.3 billion last week was more than just another deal by a special purpose acquisition company. It was the latest example of the intense focus financial and strategic buyers have on energy-related businesses at a time when oil prices have topped $125 a barrel. The credit crunch may have dampened global leveraged buyout activity, but it hasn't diminished interest among non-US corporations and domestic private equity funds in a hodgepodge of energy businesses such as electricity generators like Complete Energy or businesses involved with electricity transmission. Then, there are various oil and gas exploration businesses, energy services or alternative fuel producers that have attracted investors.

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