SeaDrill Sells Ocean Rig ASA Position

Friday, January 06, 2006
SeaDrill has accepted an offer to sell the company's position in Ocean Rig ASA. Total 21,414,028 shares were sold at NOK 89 per share. In addition, the Ocean Rig ASA 04/07 Convertible Bond, nominal value NOK 10,500,000, which may be converted into 552,632 shares in Ocean Rig ASA were sold, basis same price. The transaction will generate a profit of approximately $80 million to be recorded in Q1 2006. The Investment in Ocean Rig has since it was acquired in 2005 been considered as an opportunistic investment. The proceed from the sale estimated to approximately $ 298 million will be used to expand SeaDrill's own business including further acquisitions as well as capital reserved for financing part of the Company's USD 1,5 billion fixed price newbuilding option program.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Fincantieri Invests In Camper & Nicholsons

Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the

Tsakos Energy Navigation Reports 156% Increase in Q1 Profits

Greece-based Tsakos Energy Navigation Ltd (TEN) has reported first-quarter profit of $37.3 million from $14.6 million in Q1 2014 - a 156% Increase. On a per-share basis it has profit of 42 cents.

Egypt's $3 Bln LNG tender in June

Egypt is reportedly to issue a tender in early June to buy up to $3 billion of liquefied natural gas over 2016 and 2017, Reuters reports.   The country recently

 
 
Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators 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: 0.1222 sec (8 req/sec)