Samsung Heavy Sells Drilling Rig for $500 Mln
South Korea's Samsung Heavy Industries Co Ltd said on Monday it has agreed to sell a semi-submersible drilling rig for $500 million to an unidentified European company.
The world's third-largest shipbuilder by orderbook said Sweden's Stena, which originally ordered the drilling rig, had cancelled the order last year.
Last week, Samsung Heavy agreed to sell the rig to a European third party, resolving the risk of non-payment, the firm said in a regulatory filing.
(Reporting by Joyce Lee; Editing by Sherry Jacob-Phillips)
(Reporting by Joyce Lee; Editing by Sherry Jacob-Phillips)
