Seeking Alpha

KKR takes majority stake in OEG Offshore Group; gets upgrade

  • Headquartered in Scotland with regional hubs worldwide, OEG Offshore is a provider of specialist equipment to the offshore oil and gas industry. KKR has purchased a majority interest in the company with OEG management continuing to hold a sizable stake. Terms are undisclosed.
  • KKR's Dominic Murphy: "OEG has built an impressive track record of growth and has an exciting development path ahead, expanding its fleet, geographic coverage, and suite of products and services."
  • Soure: Press Release
  • In other KKR news, the stock is boosted to Outperform at Credit Suisse with price target lifted to $333 from $29.
Comments (3)
  • Tim'S
    , contributor
    Comments (163) | Send Message
     
    I think someone forgot a decimal point...
    9 Jul 2014, 08:07 AM Reply Like
  • ComputerBlue
    , contributor
    Comments (846) | Send Message
     
    Maybe they're just ultra-optimistic today. :)
    9 Jul 2014, 08:47 AM Reply Like
  • tom@nil......com
    , contributor
    Comments (2) | Send Message
     
    It made my morning.
    9 Jul 2014, 10:06 AM Reply Like
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