Great Offshore to buy stake in an overseas company

New Delhi, Jan 15 (UNI) Great Offshore Ltd today said it has made an offer for purchasing a controlling stake in an 'overseas company'.

However, the company refused to divulge any details about the 'overseas company' but said the offer had been accepted by the board of that company.

The overseas company shall own, upon delivery, two harsh environment, semi-submersible, sixth generation drilling rigs, which are currently under construction, and will cost 1.40 billion dollars.

Motilal Oswal Investment Advisors Pvt Ltd, are the strategic advisors and Luthra&Luthra are the legal advisors to the transaction.

Great Offshore is country's prominent integrated offshore oilfield services provider offering a broad spectrum of services to upstream oil and gas producers to carry out offshore exploration and production (E&P) activities.

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