PE Firm Champ Lands $206M Stake In Oil, Gas Service Co.

Law360, New York (September 26, 2012, 3:50 PM EDT) -- Australia's Champ Private Equity Pte. Ltd. is picking up a 33.2 percent stake in oil and gas service company Miclyn Express Offshore Ltd. for about AU$199 million (US$206.3 million) from the Macquarie Capital Group Ltd., the companies announced Wednesday.

Paying about AU$2.15 per share through its third fund, the deal also gives Sydney-based Champ a seat at the company's board of directors, which will officially restructure after the close of the sale in October. Per the deal, another 10 Australian cents will be paid if certain,...
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