Candover Seeks Buyer for Wood Mackenzie

LONDON (Reuters) – Energy consultancy Wood Mackenzie, owned by buyout firm Candover, has hired Goldman Sachs (GS.N) to sell its business for at least 650 million pounds ($953 million), the Financial Times said on Friday without citing sources.

Wood Mackenzie was not available for comment when contacted by Reuters.

The firm has received more than 20 approaches from private equity and trade groups interested in buying it, the FT said.

Troubled Candover has considered going into run-off — where a private equity firm ceases investing and runs its portfolio companies until they can be sold — but only as a last resort, a source close to the situation told Reuters last month.

Candover Investments CDI.L, the listed parent of private equity firm Candover, said earlier in March it would stop investing in the 2008 Candover fund.

As the credit crunch has made company sales all but impossible, returns to investors have dried up, severely restricting the ability of Candover Investments to invest in its own fund. (Reporting by Olesya Dmitracova)