Carlyle-Backed Crescent Midstream Is Said to Explore Sale

Carlyle Group Inc.-backed oil pipeline company Crescent Midstream is exploring a potential sale after receiving takeover interest, people with knowledge of the matter said.

The company is working with an adviser on options, according to the people. Crescent Midstream could be valued at about $1.3 billion, including debt, in any transaction, one of the people said.

Deliberations are ongoing and there’s no certainty they’ll result in a sale, the people said, asking not to be identified discussing confidential information. A representative for Carlyle declined to comment. A spokesperson for Crescent Midstream didn’t immediately respond to request for comment.

Crescent ...