North Atlantic Drilling Ltd.OTCPK - Current
Aug. 22, 2014, 8:07 AM
- Rosneft (OTC:RNFTF) will take a 30% stake in North Atlantic Drilling (NYSE:NADL) at $9.25 a share in exchange for 150 of its drilling rigs, building on a preliminary agreement discussed in May.
- The deal represents a deepening of the already strong relationship between Rosneft and Seadrill (NYSE:SDRL), which owns 70% of North Atlantic Drilling.
- Last month, Rosneft agreed to lease six offshore drilling rigs from North Atlantic Drilling by 2022, in a contract worth $4.25B.
- Previously: Rosneft to acquire shares in North Atlantic Drilling
Aug. 22, 2014, 6:54 AM
- Rosneft (OTC:RNFTF) has agreed to acquire shares in North Atlantic Drilling (NYSE:NADL) through an asset swap and investments into the company's share capital.
- "The final parameters of the deal, including the amount of Rosneft's cash contribution in NADL's charter capital, will be defined upon receiving corporate and accountant's approvals which is expected till the end of the 2014," says Rosneft.