One-Page Deal Sheet
TransAtlantic Petroleum Closes Oilfield Services Business Divestiture
Dalea Partners Transatlantic Petroleum Ltd.
Announced Date
June 13,2012
Effective Date
April 01,2012
Close Date
June 13,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
167
Location
Country
Turkey
Transaction Details: Subscribe to see
TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE Amex:TAT) is pleased to announce that on June 13, 2012, the Company closed the sale of its oilfield services business to a joint venture owned by Dalea Partners, LP ("Dalea", an affiliate of N. Malone Mitchell, 3rd, the Company's Chairman and Chief Executive Officer) and funds advised by Abraaj Investment Management Limited. Gross proceeds from the sale totaled approximately $167.2 million, comprised of approximately $155.7 million in cash and an $11.5 million promissory note from Dalea. The cash portion of the purchase price incorporated working…
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