Increase of ownership in Deepwater Driller Ltd.
(Thomson Reuters ONE) -
Reference is made to the press release sent out by Songa Offshore SE (the
"Company") on 24 March 2010 regarding the investment of 31,25% of the shares in
Deepwater Driller Ltd ("Deepwater Driller"). Deepwater Driller owns the "Songa
Eclipse", a 6(th) generation Friede & Goldman ExD ultra-deepwater semi-
submersible drilling rig under construction at Jurong Shipyard Pte Ltd,
Singapore ("Jurong") with scheduled delivery in August 2011.
The Company is pleased to announce that it has increased the ownership in
Deepwater Driller with an additional 20,6% of the outstanding shares and the
Company now owns a total of 51,9% of the outstanding shares in Deepwater
Driller. The seller of the shares is Petrolia Invest AS. The purchase price for
the additional shares is USD 34.5 million, and this has been paid out of the
Company's current cash balance.
The Company's investment in Deepwater Driller is on a non-recourse basis, but
Deepwater Driller will from Q1 2011 be consolidated into the Company's
accounts. The conditions in the shareholder agreement between the shareholders
in Deepwater Driller are still as described in the Company's press release of
24 March 2010.
The increase of ownership in Deepwater Driller is in line with the Company's
communicated strategy and should be seen as part of the Company's overall
strategy to expand into the ultra deepwater segment.
Limassol, 25 January 2011
Questions should be directed to:
Geir Karlsen, CFO +47 23 01 14 24 / +47 91 60 83 32
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Songa Offshore SE via Thomson Reuters ONE
[HUG#1482105]
Unternehmensinformation / Kurzprofil:
Datum: 25.01.2011 - 08:42 Uhr
Sprache: Deutsch
News-ID 50702
Anzahl Zeichen: 2423
contact information:
Town:
Oslo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 192 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Increase of ownership in Deepwater Driller Ltd."
steht unter der journalistisch-redaktionellen Verantwortung von
Songa Offshore SE (Nachricht senden)
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