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Noble Corp Announces Receipt Of Private Letter Ruling For Previously Announced Spin-Off Transaction

Friday, 25 Oct 2013 08:00am EDT 

Noble Corporation announced that it has received the anticipated private letter ruling from the Internal Revenue Service relating to the tax treatment of the recently announced proposed spin-off of the Company's standard specification drilling business. The previously announced spin-off transaction, if effected, is expected to qualify as a tax-free transaction under sections 368(a)(1)(D) and 355, and related provisions of the Internal Revenue Code of 1986, as amended. The private letter ruling addresses key aspects of the tax treatment of the proposed transaction. The Company continues to proceed with its preparation for the spin-off. 

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