Trevi Group has divested its Contract Drilling Business to MEIL as part of the sale of its Oil and Gas Division
Transaction Overview – Restructuring & Divestment
PPHB LP acted as the exclusive financial advisor in the sale of Petreven SpA, which was divested as part of the Oil & Gas Division sold by Trevi Finanziaria Industriale SpA (“Trevi Group”) to Megha Engineering & Infrastructure Limited. The sale of the Oil & Gas Division was completed in connection with a broader restructuring of Trevi Group (“Restructuring Agreement”), which was agreed by the Court of Appeals of Bologna on January 10, 2020.
Trevi Finanziaria Industriale SpA (“Trevi Group”)
Trevi Group is a worldwide leader in the field of engineering and construction with a strong expertise in a variety of project groups, including dams and levees, marine works, ground and underground transportation, industrial and civil buildings, main restorations, environmental solutions and automated car parks, among others. The company also designs, manufactures and distributes a variety of drilling and foundation equipment for the ground engineering and construction industry. Trevi Group was established in Cesena, Italy in 1957 and is present in over 80 countries.
Petreven SpA (“Petreven”)
Petreven is a leading provider of land contract drilling services to the Latin America marketplace. The company operates 20 hydraulic, automated drilling rigs and workover rigs with operations focused in Argentina, Peru, Chile and Venezuela. Petreven has drilled over 3,300 wells across its operating region, consistently delivering efficient and safe operating performance, which has allowed it to establish strong relationships with a blue-chip customer base. The company was founded in 1998 and is headquartered in Cesena, Italy.
Megha Engineering & Infrastructures Limited (“MEIL”)
MEIL, through its subsidiaries, is a leading provider of engineering and infrastructure services. The company offers services for a variety of sectors and applications, such as irrigation, drinking water, power, hydrocarbons, transportation and general infrastructure. It also manufactures glass reinforced polyester and epoxy, spiral welded, and HDPE pipes, as well as pressure vessels. MEIL was founded in 1989 and is based in Hyderabad, India with additional offices throughout India. The company also has operations in Kuwait, Tanzania, Zambia and Bangladesh.
PPHB, LP (“PPHB”)
PPHB is an independent investment banking firm providing financial advisory services exclusively to clients in the oilfield equipment and service industry.