Major Cuadrilla investor backs out amid UK fracking ban

Private equity firm Riverstone has sold its stake in Cuadrilla, the UK’s only fracking firm, as the company remains thwarted by Government red tape.

The US firm has lost its patience with the nascent UK fracking industry, selling its 45% stake to Australian mining firm AJ Lucas, which was already Cuadrilla’s largest shareholder.

The value of the deal, which has seen AJ Lucas increase its stake to approximately 93%, has not been disclosed.

Cuadrilla said the remaining stake in the company is primarily owned by current and former employees.

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