KEG Key Energy Services Inc

   By Allison Prang 
 

Goldman Sachs Group Inc. (GS) has acquired a 7.5% interest in Key Energy Services Inc. (KEG), it said in a regulatory filing Friday.

The investment banking firm acquired about 1.5 million shares in Key as an investment, Goldman said in a filing with the Securities and Exchange Commission.

Goldman said its investing and lending desk plan to try to institute changes at Key to boost shareholder value.

Key, based in Houston, had $521.7 million in revenue in 2018 and reported a net loss of $88.8 million. Its stock has fallen 31% in the last month and 75% in the last 12 months. Year to date, it has risen 86%. Shares closed Thursday at $3.86.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

April 19, 2019 07:01 ET (11:01 GMT)

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