Apollo Global Management and Riverstone Holdings today may sign an agreement to acquire El Paso Corp.’s (NYSE: EP) exploration and production assets, according to the NY Times. An earlier Reuters report suggested a bid price of $7 billion. El Paso is divesting the assets (either as a whole or in pieces), due to its $21 billion takeover by Kinder Morgan.
The CapStreet Group sponsored a majority recapitalization of Gulf Stream Marine Inc., a Houston-based marine cargo handling company. No financial terms were disclosed. Crutchfield Capital Corp. managed the process for GSM. www.capstreet.com
Orchid Orthopedic Solutions, a portfolio company of Altor Private Equity, has agreed to acquire the Orchid Orthopedic Solutions division of Sandvik. No financial terms were disclosed. The unit provides contract manufacturing of medical implants and instruments for orthopaedic and dental applications, and reported around $90 million in 2011 sales.
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