Monday, Jun 25, 2012
DUBAI (Zawya Dow Jones)--Dubai's Abraaj Capital, the biggest private equity firm in the Middle East, and Delea LP, a private investment company, Monday said they completed their acquisition of oilfield services businesses formerly owned by the U.S.-based TransAtlantic Petroleum.
Abraaj and Delea entered exclusive negotiations over the purchase in February. Through a joint venture called Viking Services B.V., the companies bought Viking International, Viking Geophysical and Viking Oilfield Services, according to a statement. Viking has operations in Turkey, Poland, Bulgaria, Romania, Iraq's Kurdistan region, among other countries.
TransAtlantic said it had closed the sale in a separate statement on June 13. Gross proceeds totaled $167.2 million: $155.7 million in cash and a $11.5 million promissory note from Dalea, the statement said. TransAtlantic is using funds raised in the sale to pay off debt.
-By Asa Fitch, Dow Jones Newswires, +971 4 446-1685, asa.fitch@dowjones.com; Twitter: @ZDJnews
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
25-06-12 0931GMT
