Noble Corp to spin off older rigs into new company
Sept 24 (Reuters) - Offshore drilling contractor Noble Corp announced on Tuesday its long-planned spin-off of older rigs into a separate company that it will still control, with an eye toward a possible minority stake flotation next year.
Noble said the split of 44 drilling rigs and other assets from its "high-specification" assets would take place by the end of 2014, and that the separation may be preceded by an initial public offering of up to 20 percent of the shares of the new company.
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