Private Equity | Deals - Acquisition, Mergers, Divestitures | Capital Markets
TransAtlantic Inks LOI to Sell Oilfield Services Business
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TransAtlantic Petroleum Ltd. has entered into a non-binding letter of intent to sell its oilfield services business, which is substantially comprised of its wholly owned subsidiaries Viking International Limited and Viking Geophysical Services, Ltd., to a consortium consisting of Dalea Partners, LP (an affiliate of N. Malone Mitchell, 3rd, the Company's Chairman and Chief Executive Officer) and funds advised by Abraaj Investment Management Limited (an affiliate of Abraaj Capital, one of the largest private equity groups in the Middle East, North Africa and South Asia) for an aggregate purchase price of $164 million, subject to adjustment in certain limited circumstances.
Consideration for the sale would consist of $152.5 million in cash and an $11.5 million interest-bearing promissory…
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