Announced
Financials
Sources
Tags
Friendly
Acquisition
Domestic
Pending
oil drilling
Offshore Drilling and Other Services
Single Bidder
Saudi Arabia
Majority
Private
Synopsis
ADES, an oil and gas drilling company, agreed to acquire seven jack-up assets of Seadrill, a provider of drilling and well services to the offshore industry, for $628m. "The sale of seven jack-ups to ADES is transformative for Seadrill. We are pleased to announce this transaction, which we believe crystallizes the valuation of these rigs at a substantially higher level than currently implied in Seadrill's share price. It will also enable us to significantly de-lever our balance sheet, positioning us for future opportunities," Simon Johnson, Seadrill CEO.
Search a database of more than 250,000 verified dealmakers
Receive automated updates on global transactions
Follow the activity, relationships and transactions of top dealmakers
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.