Transocean to sell 38 rigs to Shelf in $1.05B deal

摘要

Transocean Ltd., Houston and Zug, Switzerland (NYSE: RIG), plans to sell 38 shallow-water drilling rigs to Shelf Drilling International Holdings Ltd. for $1.05 billion in cash and shares. The sales price includes approximately $855 million in cash and $195 million in seller financing in the form of preferred shares issued by an affiliate of Shelf Drilling. As a component of the agreement, Transocean will provide various transition support services to Shelf Drilling for a period subsequent to the closing of the transactions, which is expected in fourth-quarter 2012.