Transocean's subscription period for compulsory acquistion of Songa shares ends
Transocean announced that the subscription period for Transocean Ltd.'s and Transocean Inc.'s compulsory acquisition of the remaining shares in Songa Offshore SE expired on March 20. All remaining shares in Songa Offshore will be transferred to Transocean and the compulsory acquisition will start after the close of trading of Songa's shares on the Oslo Stock Exchange on March 21. Transocean expects to settle the compulsory acquisition with the delivery of Consideration Shares, Exchangeable Bonds and cash consideration, as applicable, to Songa Offshore shareholders on or about March 28. Transocean intends to pursue a delisting of the Songa Offshore shares from the Oslo Stock Exchange as soon as possible.