Links
Complications Unwound. How DRYS Got There.
Last week, DryShips announced that it had agreed to acquire, from George Economou and other third party interests, the remaining 25% minority interest in Primelead Shareholders, Inc., the holding company and operating platform for DryShips ultra deepwater drilling rig assets including two owned and operational ultra deepwater semisubmersibles and 4 newbuilding drillship contracts as well as the commercial operating company, Ocean Rig ASA.
The transaction was structured to minimize the cash outlay and leverage with the price being dilution. Consideration for the transaction included $50 million in cash and the issuance of $280 million in face value of mandatorily
This is only an excerpt of Complications Unwound. How DRYS Got There.
Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.
Related Archive Files
Tags: · Cantor Fitzgerald, Cardiff Marine, Deutsche Bank, Dexia Credit, DnB NOR, DrillShips Investment, DryShips, Eric Pachman, Evercore Partners, George Economou, Inc., Mark Whatley, Morgan Stanley, Nordea Bank, Ocean Rig ASA, Ole Slorer, Pride International, Primelead Shareholders, Rob Pacha, Samsung, Seadrill, Transocean
Leave a Reply
You must be logged in to post a comment.
The Official Guide To Marine Finance Providers
Shipping Index
