Monday, June 28, 2010

Carlyle/Riverstone Sell Frontier Drilling for $2.16 Billion

The Carlyle Group's "great cash in" continued with the sale of Frontier Drilling to Noble. The $2.16 billion sale is expected to close by the end of July. FT reported:

Goldman Sachs advised Frontier Drilling on the deal, while Noble was advised by Simmons & Company International, Barclays Capital and SunTrust Robinson Humphrey.
Carlyle's David Rubenstein and Goldman's Lloyd Blankfein found solid ground for this deal. What do insiders know about the future of deepwater drilling?