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PE giant Carlyle unloads all of its leading stake in Chesapeake Energy

Private equity giant the Carlyle Group, briefly the single largest shareholder in Chesapeake Energy Corp., dumped all of its nearly 9% stake in the troubled shale oil and gas producer, according to a May 15 SEC filing.

Carlyle held 864,486 shares of Chesapeake for just over a year before exiting its stake completely May 12, SEC records show. Chesapeake's shares closed the market May 15 at $10.79 per share after gaining 24% in heavy trading. Chesapeake underwent a 1-to-200 reverse stock split April 13 to boost its share price and keep its market listing.

Chesapeake's shares have lost 98% of their value over the past year, and the producer acknowledged in its most recent quarterly report that it had hired restructuring specialists to deal with its more than $9 billion in long-term debt. The company also said that due to the collapse in oil prices there were doubts it could continue as a "going concern."