Sep. 23, 2014, 3:04 PM
- The latest deal for the Phil Falcone vehicle is the purchase of Global Marine - a provider of engineering and underwater services for subsea cable installations - for an enterprise value of $260M after assuming the company's debt.
- The deal was funded through a senior secured facility provided by Jefferies, and a private sale of convertible preferred stock.
- The capital raise also gives HC2 (OTCQB:HCHC +3.4%) the funds needed to complete its tender for the 30% of shares of Schuff International (OTCPK:SHFK) it doesn't already own.
- Previously: HC2 extends tender offer for Schuff International
Steel Fabrication and Erection for commercial and industrial construction.
Industry: Diversified Investments
Country: United States
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