Mideast's Abraaj to buy oilfield service business
Published: February 28, 2012
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DUBAI, United Arab Emirates (AP) — Mideast private equity firm Abraaj Capital says it is in talks to buy the oilfield service businesses of TransAtlantic Petroleum.
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Dubai-based Abraaj said Tuesday it is pursuing the bid for the Viking International Limited and Viking Geophysical Services oilfield operations in partnership with a company linked to TransAtlantic Chairman and CEO N. Malone Mitchell III.
TransAtlantic shares trade on the Toronto Stock Exchange, but its corporate office is in Addison, Texas. It valued the deal at $164 million.
Viking has operations in Turkey, Bulgaria and Romania.
Abraaj last week announced it was buying Aureos Capital, a private equity fund management firm focused on Asia, Africa and Latin America.
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