First Reserve Corporation

June 9, 2008 - 6:37am

The British Columbia Supreme Court has approved CHC Helicopter’s planned $3.7 billion sale to a fund controlled by Connecticut-based First Reserve. The deal is expected to close this month. CHC is the world’s largest provider of helicopter services to the offshore oil and gas industry and operates 250 aircraft in 35 countries. The sale price is a combination of cash and debt assumption.

March 28, 2008 - 10:41am

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.

February 23, 2008 - 4:05pm
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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.”

 
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