Transocean Completes Acquisition of Remaining Songa Offshore Shares
March 30 2018 - 6:42AM
Transocean Ltd. (NYSE:RIG) announced today that it completed the
previously announced compulsory acquisition of the remaining
outstanding shares of Songa Offshore SE.
All remaining shares in Songa Offshore were
transferred to Transocean in accordance with the terms and
conditions of the compulsory acquisition. Transocean then settled
the compulsory acquisition by delivering Consideration Shares,
Exchangeable Bonds and cash consideration, as applicable, to Songa
Offshore shareholders. Songa Offshore’s shares remained listed on
the Oslo Stock Exchange through March 28, 2018.
About Transocean
Transocean is a leading international provider of offshore
contract drilling services for oil and gas wells. The company
specializes in technically demanding sectors of the global offshore
drilling business with a particular focus on ultra-deepwater and
harsh environment drilling services, and believes that it operates
one of the most versatile offshore drilling fleets in the
world.
Transocean owns or has partial ownership interests in, and
operates a fleet of 47 mobile offshore drilling units consisting of
27 ultra-deepwater floaters, 12 harsh environment floaters, two
deepwater floaters and six midwater floaters. In addition,
Transocean has two ultra-deepwater drillships under construction or
under contract to be constructed. The company also operates
two high-specification jackups that were under drilling
contracts when the rigs were sold, and the company continues to
operate these jackups until completion or novation of the drilling
contracts.
For more information about Transocean, please visit:
www.deepwater.com.
Forward-Looking Statements
Any statements in this release that are not historical facts may
be forward-looking statements that involve certain risks,
uncertainties and assumptions. All forward-looking statements
included in this release are based on information available to the
company as of the date of this communication and current
expectations, forecasts and assumptions. Forward-looking statements
involve risks and uncertainties which could cause actual results to
differ materially from those anticipated. These risks and
uncertainties include the timing, receipt and terms and conditions
of any required governmental and regulatory approvals for the
compulsory acquisition; difficulties that may be encountered in
integrating the combined businesses and realizing the potential
synergies of the combination; and the other risks and uncertainties
included in the Registration Statement on Form S-4 filed by the
company on February 16, 2018, or in the company’s most recent Form
10-K, Forms 10-Q and other filings with the U.S. Securities and
Exchange Commission (the “SEC”). No forward-looking statements in
this release should be relied upon as representing the company’s
views or expectations as of any subsequent date, and the company
does not undertake any obligation to revise or update any such
forward-looking statement to reflect events or circumstances that
may arise after the statement was made.
Analyst Contacts:Bradley
Alexander+1 713-232-7515
Diane Vento+1 713-232-8015
Media
Contact: Pam Easton+1
713-232-7647
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