Songa Offshore SE yesterday finalised the formal handover of Songa Eclipse to Seadrill in line with the Memorandum of Agreement from November 2012.
As previously reported, Songa’s net proceeds from the sale is USD 590 million. After repayment of debt, the net cash effect from the sale proceeds will be approximately USD 285 million.
“With the handover of Songa Eclipse now completed, Songa has further strengthened its position to become a leading international mid-water rig operator ,” says interim CEO and chairman of the board, Jens A Wilhelmsen .
Related links:
Seadrill, Songa Offshore Enter HoA for Potential Purchase of ‘Songa Eclipse’
Seadrill Acquires ‘Songa Eclipse’ Rig
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Songa Offshore, January 4, 2013