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Prospector Offshore Drilling SA Announces Completion of Sale of Two of Company's Subsidiaries


Tuesday, 11 Dec 2012 01:36am EST 

Prospector Offshore Drilling SA announced that the sale of two of its subsidiaries has been completed. Reference is made to the Company's stock exchange notices on October 23, 2012, October 25, 2012 and November 27, 2012, regarding the sale and purchase agreements entered into with Tabasco Jackup, S.A. de C.V. and Campeche Jackup, S.A. de C.V. in respect of two of the Company's subsidiaries, each holding one rig under construction at Dalian Shipbuilding Industry Offshore Co., Ltd. (Rig 2 Transaction and the Rig 4 Transaction). Both the Rig 2 Transaction and the Rig 4 Transaction have now been completed in accordance with the provisions of the respective sale and purchase agreements. The Company's aggregate net proceeds are approximately USD 106.6 million and the Company will recognize an aggregate gain of approximately USD 62.9 million based on the first installment under each of the construction contracts, project management costs incurred to date, broker commissions, taxes and professional fees. 

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16 Apr 2014