First Reserve Corporation - Acquisition of CHC Helicopter Corporation

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Slaughter and May, as an integrated team with Simpson Thacher & Bartlett LLP and Blakes, Cassels & Graydon LLP, is advising First Reserve Corporation on the recommended cash acquisition of CHC Helicopter Corporation for approximately Canadian $3.7 billion.

The acquisition, which was announced on 22 February 2008, will be implemented by way of a plan of arrangement under the provisions of the Canada Business Corporations Act.

Completion of the transaction is subject to certain conditions, including obtaining approvals or confirmations from certain European and Canadian aviation regulatory authorities regarding the granting or maintaining if required licences and permits following completion of the transaction. The transaction is currently expected to closed in the second calendar quarter of 2008, subject to the terms of the agreement.

CHC Helicopter Corporation is the world’s largest provider of helicopter services to the offshore oil and gas industry.

Christopher Saul (partner), Vicky Horrobin (associate), Paul Dickson (associate), Jonathan Stewart (associate); Competition: Philippe Chappatte (partner), Aurora Luoma (associate); Pensions and Employment: Jonathan Fenn (partner), Katherine Pile (associate); Commercial Real Estate: Gareth Miles (partner), Jill Davies (associate), Tim Woodthorpe (associate)