Oil drilling firm KCA Deutag 'could be put up for sale'

KCA Deutag said a sale of the business was just one of the options

An oil drilling and engineering firm which employs hundreds of people in the north east of Scotland could be put up for sale.

The owners of KCA Deutag said a review of how best to restructure the company's debt of about $2bn was under way.

A spokesman for the company insisted no jobs were under threat.

A sale of the business was just one of the options being considered, the company said.

A statement said: "Such review will involve the possibility of a sale of the business or the provision of new long-term capital in connection with a refinancing or renegotiation of the existing debt."