April 19, 2018 - 10:38 AM EDT
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Akastor ASA: Advanced discussions regarding potential investment of USD 75.0 million in Odfjell Drilling Ltd.

Odfjell Drilling Ltd. (OSE: ODL, "ODL "), an international drilling, well service and engineering company, today announced that it is considering to acquire the "Stena Midmax Rig", a Moss CS60E semisubmersible drilling rig. An Akastor owned company is in advanced discussions with ODL to finance USD 75.0 million of the rig acquisition by subscription of a perpetual preferred equity instrument to be issued by ODL. A warranty package will also be included in the structure.

The company will revert with further details should the advanced discussions lead to a final agreement between ODL and Akastor.

 
ENDS

For further information, please contact:

Leif Borge
Chief Financial Officer
Mob: +47 917 86 291
E-mail: [email protected]

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

 




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Akastor ASA via Globenewswire


Source: Thomson Reuters ONE (April 19, 2018 - 10:38 AM EDT)

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