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TransAtlantic Closes Sale Of Viking Assets

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June 14, 2012

A consortium consisting of a joint venture owned by Oklahoma City-based private-equity firm Dalea Partners LP and funds advised by Abraaj Investment Management Ltd., an affiliate of Dubai, U.A.E.-based private-equity firm Abraaj Capital, has closed the purchase of oilfield services business from TransAtlantic Petroleum Ltd., Hamilton, Bermuda, (Toronto: TNP; NYSE Amex: TAT) for $167.2 million.

Dalea Partners is an affiliate of N. Malone Mitchell 3rd, TransAtlantic’s chairman and chief executive.

The consortium paid approximately $155.7 million in cash and Dalea issued a $11.5-million promissory note.

The assets include TransAtlantic’s subsidiaries ...


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