Abraaj To Pay $164M For TransAtlantic Oil Field Units

Law360, New York (February 28, 2012, 1:29 PM EST) -- Middle Eastern private equity firm Abraaj Capital will pay $164 million for the oil field service businesses of cash-strapped TransAtlantic Petroleum Ltd., an energy company with assets in Eastern Europe and Turkey, TransAtlantic said Tuesday.

Abraaj, based in the United Arab Emirates, has signed a nonbinding letter of intent to acquire Viking International Ltd. and Viking Geophysical Services Ltd. It will team up with Dalea Partners LP, a Texas-based private equity firm that is tied to TransAtlantic Chairman and CEO N. Malone Mitchell III, the company...
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