Russian-backed private equity firm, Pamplona Capital Management, may take over Aberdeen-based oil services group, KCA Deutag, Financial Times reports. Pamplona has received backing from junior lenders and is seeking support from a group of senior ranking lenders, for its proposed restructuring of KCA.

Pamplona has offered the company and its lenders about $550 million of new funds, the proceeds from which are expected to be used to repay existing debt of the company. KCA is been advised by Morgan Stanley, while Rothschild is acting as the advisor for Pamplona in the deal.

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