Transocean Launches Unconditional Offer for Shares of Aker Drilling

Friday, August 26, 2011


Transocean Services AS ("Transocean" or the "Company"), a wholly owned subsidiary of Transocean Ltd. (NYSE: RIG) (SIX: RIGN), today, after receiving clearance by the Oslo Stock Exchange, launched its all cash voluntary offer (the "Offer") for 100 percent of the shares of Aker Drilling ASA ("Aker Drilling") for NOK 26.50 per share. The Offer has been made on the same terms as the previously announced voluntary offer, except that it has been made on an unconditional basis and with settlement guaranteed by a financial institution.

The Offer period begins August 26, 2011 and ends on September 23, 2011 at 11:30 a.m. (EDT), 5:30 p.m. (CEST). To date, Transocean and its affiliates have acquired 13.7% of the shares and votes in Aker Drilling, and shareholders representing 59.5% of the total share capital of Aker Drilling have given their unconditional and irrevocable pre-acceptances to the Offer.

The Offer document has been reviewed and approved by the Oslo Stock Exchange in accordance with Section 6-14 of the Norwegian Securities Trading Act. This document will, subject to restrictions under applicable securities laws, be available during the Offer period at the website of Transocean Ltd. (www.deepwater.com), and the website of Fearnley Fonds (www.fearnleyfonds.com). The document will also be sent to the shareholders of Aker Drilling, subject to restrictions under applicable securities laws.

The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions. Transocean assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.


Maritime Today


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

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

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Offshore

US Oil Drillers Cut Rigs to Least in 6 Years

U.S. energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data showed on Friday, as energy firms continue to

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Finance

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

Philippines Mulls Bilateral Sea Talks with China

The Philippines may consider two-way talks with China to resolve a territorial dispute in the South China Sea but only if it wins its case with Beijing at an arbitration tribunal in The Hague,

Energy

US Oil Drillers Cut Rigs to Least in 6 Years

U.S. energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data showed on Friday, as energy firms continue to

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Port Authority Salvage Ship Repair Ship Simulators Sonar
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: 0.1185 sec (8 req/sec)