2011-01-14-2010-12-30-2010-12-30

Bought remote accommodations provider, gaining housing services for coal and gas companies operating in Australia.

Oil States International Inc., Houston, (NYSE: OIS) has closed the acquisition of remote accommodations provider The MAC Services Group Ltd. (Australia: MSL) for US$645 million (A$651 million) in cash.

Oil States paid US$3.85 (A$3.90) per The MAC share, or a 16% premium to The MAC's Oct.14 closing price of US$3.31 (A$3.35), according to Oil States.

The MAC Services Group provides housing accommodations to coal producers in the Bowen Basin and also plans to provide future services to the coal, gold, iron ore and liquefied natural gas businesses in New South Wales and Western Australia. It currently has operations with six villages totaling close to 5,000 rooms in Queensland, Australia.

The combined company will support more than 11,000 workers daily, and plans to grow room capacity to more than 14,000 rooms by October 2011.

Oil States funded the acquisition with cash on hand and borrowings available under a new five-year, $900-million senior secured bank facility.

Marley Holdings Pty Ltd., as trustee for The Maloney Family Trust (a 52% shareholder in The MAC Group), has granted an option over a portion of its holding in the acquired company to Oil States, representing 19.9% of the total issued capital of The MAC.

Lazard Freres & Co. LLC and Lazard Pty Ltd. were financial advisors to Oil States, and Vinson & Elkins LLP and Mallesons Stephen Jaques were legal advisors.