CHC Helicopter Corp. hit the Big Apple October 11 when its class-A subordinate voting shares began trading on the New York Stock Exchange under the symbol “FLI.” Making a characteristically high-profile splash in the concrete canyons of lower Manhattan, CHC CEO Craig Dobbin, flanked by other company officers, rang the official opening bell to start trading on the stock exchange floor at 9:30 a.m.
CHC Helicopter, the world’s largest provider of helicopter services to the offshore oil and gas industry, is being sold for $3.7 billion in what company officials describe as “the largest oilfield services buyout ever.”
The buyer is First Reserve, a Greenwich, Conn.-based private-equity company. In addition to $1.46 billion in cash, the firm will assume $1.48 billion in aircraft liabilities and about $779 million in debt.
CHC Helicopter Corp., the world’s largest provider of helicopter services to the offshore oil and gas industry, is to be sold for $3.7 billion in what company officials described as “the largest oilfield services buyout ever.”
CHC Helicopter is scaling back its offices in St. John’s, Newfoundland, Canada, as part of a restructuring plan. The COO and financial staff are moving to the company’s office in Vancouver, B.C. CEO Craig Dobbin said that although the company will maintain an office in St. John’s, there will be some layoffs–but he plans to hold off on these for at least six months. Dobbin apparently considered beefing up the office in St.