Transocean’s acquisition of Ocean Rig gets shareholder approvals

Transocean’s acquisition of Ocean Rig gets shareholder approvals

Transocean and Ocean Rig have both announced the approval of their respective shareholders for Transocean’s $2.7bn acquisition of Ocean Rig, first announced in September.

Ocean Rig is now set to become a subsidiary of Transocean, and the enlarged entity will remain listed on NYSE under the RIG symbol.

Jeremy Thigpen, president and CEO of Transocean, commented: “Through this combination, Transocean further enhances our industry-leading fleet of high specification floaters, thus improving our competitive position. We are excited to begin actively marketing these assets into the growing list of opportunities we continue to see emerging across our global customer base.”

The acquisition grows Transocean’s fleet to 54 offshore drilling units with the addition of nine drillships, two semi-submersible rigs, and a further two drillship currently under construction.

 

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.

Related Posts