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CHC Helicopter to be bought in $3.7B deal by private equity firm First Reserve

February 22, 2008  ByCorrie

Feb 22 2008, Vancouver - A U.S.-based oil and gas services firm is buying Vancouver's CHC Helicopter Corp. in a deal that values the helicopter operator at $3.7 billion.


Feb 22 2008, Vancouver – A U.S.-based oil and gas services firm is buying Vancouver's CHC Helicopter Corp. in a deal that values the helicopter operator at $3.7 billion.

First Reserve Corp., a big private equity firm specializing in oil and gas services, says the all-cash deal is biggest-ever buyout in the oilfield services industry. First reserve is offering $32.68 a share for each of CHC's Class A and Class B shares.

CHC is the world's biggest provider of helicopter transportation to oil companies. It's helicopters are used to fly people and equipment to locations where oil and gas are drilled, such as offshore oil rigs and remote oil fields.

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