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Seadrill buys out Mermaid Maritime to take full control of Asia Offshore Drilling

Photo of Grant Rowles Grant RowlesSeptember 15, 2020
2,691 Less than a minute

John Fredriksen’s Seadrill has agreed a deal to buy out Thailand’s Mermaid Maritime to take full control of Asia Offshore Drilling.

The joint venture owns three jackup rigs, and Seadrill is paying $31m to acquire the Thai company’s 33.76% stake.

Following completion of the deal, set for later this month, Seadrill subsidiary Seadrill Rig Holding Company Limited will hold 100% of the shares in Asia Offshore Drilling.

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Photo of Grant Rowles Grant RowlesSeptember 15, 2020
2,691 Less than a minute
Photo of Grant Rowles

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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