Transocean Ltd has agreed to acquire Songa Offshore SE for $3.38bn. The purchase consideration also includes the assumption of $1.7bn of debt currently owed by the target company.

Transocean will fund the acquisition via a combination of cash, equity and convertible bonds.

The newly combined entity will operate 30 ultra-deepwater floaters, 11 harsh environment floaters, three deep-water floaters and seven midwater floaters.

Transocean is also the owner of four ultra-deepwater drill-ships that are currently under construction.

Transocean has appointed Clarksons Platou Securities as the financial advisor, and King & Spalding LLP and Wikborg, Rein & Co Advokatfirma DA as legal advisors for the transaction.

The transaction will allow Transocean to fortify its business and is scheduled for completion in the fourth quarter of this year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Thalassa Holdings Ltd has agreed to dispose WGP Group Ltd for a sale consideration of up to $30m.

"Royal Boskalis Westminster N.V. (Boskalis) has completed the acquisition of all shares in Gardline Group for a sum of approximately $52m."

The consideration includes an upfront payment of $20m and a performance-based earn out of up to $10m.

Royal Boskalis Westminster N.V. (Boskalis) has completed the acquisition of all shares in Gardline Group for a sum of approximately $52m.

The acquisition is expected to allow Boskalis to expand its services in the offshore survey market.

Mitsui O.S.K. Lines, Ltd (Mitsui OSK) has announced plans to acquire 11% stake in Swan LNG Private Limited.

Swan LNG is involved in the development of the floating storage and regasification unit (FSRU) based LNG terminal in Gujarat, India.

The terminal is anticipated to handle 4.5 million metric tonnes per annum (mmtpa) of LNG and is slated for completion in 2019.

The purchase will allow Mitsui OSK to expand its portfolio of assets.