April 27, 2020 / 11:15 AM / in a month

BRIEF-Loews Carrying Value Of Diamond Offshore Drilling, Other Units $1.5 Bln on Dec 31

April 27 (Reuters) - Diamond Offshore Drilling Inc:

* LOEWS - LOEWS’S CARRYING VALUE OF DIAMOND OFFSHORE DRILLING & SOME OF ITS UNITS, AT DEC 31, 2019 WAS $1.5 BILLION

* LOEWS - IS NOT RESPONSIBLE FOR, & DOES NOT PROVIDE GUARANTEES OF, LIABILITIES & OBLIGATIONS OF ITS UNITS, INCLUDING DIAMOND

* LOEWS - EXPECTS TO RECORD IN Q2 A NON-CASH LOSS FOR DIFFERENCE BETWEEN CARRYING VALUE, ESTIMATED FAIR VALUE OF INTEREST IN DIAMOND AS OF APRIL 26

* LOEWS - TO NO LONGER CONTROL DIAMOND FOR ACCOUNTING PURPOSES, DIAMOND TO BE DECONSOLIDATED FROM CO'S CONSOLIDATED FINANCIAL STATEMENTS EFFECTIVE APRIL 26 Source text for Eikon: [ID:bit.ly/359OhGg] Further company coverage:

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