Transocean Closes R&B Falcon Merger

Thursday, March 08, 2001
Transocean Sedco Forex Inc., recently announced the close of its merger with R&B Falcon Corporation, creating an offshore drilling contractor with unprecedented fleet and enhanced geographic diversity, technical expertise, financial strength and equity market liquidity. Pursuant to the merger agreement, Transcocean Sedco Forex will issue 106 million ordinary shares to R&B Falcon shareholders at the exchange ratio of 0.5 shares of Transocean Sedco Forex for each share of R&B Falcon, Following the exchange, the company's ordinary shares outstanding will total approximately 317 million. The shares will continue to be listed on the New York Stock Exchange under the trading symbol, "RIG." The company also announced that Victor E. Grijalva would continue to serve as the chairman of the board of directors of Transocean Sedco Forex, while the members of the company's executive team will continue to consist of the same members.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Subsea 7 Awarded $1bn Wind Farm Offshore UK Deal

Subsea 7 S.A. informed today the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2),

BW LPG Registers 10% Growth in VLGC Fleet

Less domestic petrochemical consumption of LPG would be positive for VLGC shipping as it would result in a greater surplus of LPG available for export.    However,

Subsea 7 Secures EPCI Contract

Subsea 7 S.A. announced it has been awarded an engineering, procurement, construction and installation (EPCI) contract for offshore execution in 2017 and 2018.   The

Education/Training

Crowley Awards Scholarships to Four Mass. Maritime Students

Four students from Massachusetts Maritime Academy (MMA) have been awarded Crowley Maritime Corp.’s Thomas B. Crowley Sr. Memorial Scholarships.   Chosen based on their academic achievement,

Automated Skill Erosion

The increasing automation of vessels is causing some mariners to lose basic maritime skills.   Cruise ship Royal Majesty Grounding During dinner on June 10, 1995,

Engine Room Resource Management Class

SUNY Maritime College’s Department of Professional Education and Training (PET) is offering a five-day engine room resource management course, with the first round of sessions starting June 6.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0676 sec (15 req/sec)