Cameron Reps Hunting In $775M TSI Drilling Deal

Law360, New York (August 5, 2011, 1:51 PM EDT) -- Oil and gas drilling services company Hunting PLC said Friday it would buy TSI Acquisition Holdings LLC for $775 million from private equity company Riverstone Holdings LLC in a deal that expands its drilling product line to include proprietary well-perforation technology.

London-based Hunting said the deal, which requires the blessing of its shareholders at a mid-September meeting, is a strategic fit.

Hunting will fund the deal via cash on hand, a $614 million credit facility underwritten by Barclays Bank PLC, Lloyds TSB Bank PLC and the...
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