Japanese trading house Itochu has sold its 25% interest in embattled Samson Resources back to the company for $1 after paying $1 billion for the stake less than five years ago.
Itochu secured its stake in the Oklahoma City-based independent as part of the $7.2 billion buyout of the company from the Schusterman family, led by private equity players that included KKR, Crestview Partners and Natural Gas Partners.
That
