China Oilfield says controls 56.5 pct of Awilco

Fri Aug 15, 2008 8:38am EDT
 
[-] Text [+]

OSLO, Aug 15 (Reuters) - China Oilfield Services (2883.HK) said on Friday that it had acceptances for its takeover bid for Norwegian Awilco Offshore AWO.OL from shareholders with about 56.5 percent of the stock.

The announcement came just a few hours before the 85 crowns per share offer for all outstanding shares was due to expire.

Oil rig group Awilco Offshore said on July 7 that it agreed to be bought by China Oilfield Services Ltd (COSL) in a deal worth about $2.5 billion.

"The final result of the offer will be announced following expiry of the acceptance period," COSL Norwegian AS said in a statement.

COSL did not say if it would extend the offer beyond the 1430 GMT expiry of the acceptance period. (Reporting by John Acher; Editing by Paul Bolding)

 
Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better