GE Buys into Brazil Oil Drilling

GE Buys into Brazil Oil Drilling

M&A

GE Energy Financial Services plans to invest $54m and co-finance the acquisition of a ship drilling for oil in deep water off the coast of Brazil. GE says this is its first equity investment in offshore drilling. GE Capital Markets is an MLA on $259m in associated senior debt facilities along with WestLB, which is also an MLA. GE Transportation Finance joined with GE Energy Financial Services in underwriting the debt. The funds will facilitate Mike Mullen Energy Equipment Resource's acquisition

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