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Transocean commences voluntary exchange offer to acquire all shares in Songa Offshore

The Offer period for the Offer will commence 21 December 2017, and expire at 16.30 (CET) on 23 January 2018, unless extended in accordance with the terms set forth in the Offer Document (the “Offer Period”).

Completion of the Offer is subject to satisfaction of, or, where permissible, waiver of certain conditions, including conditions regarding minimum acceptance of shareholders holding more than 90% of the Songa Offshore shares on a fully diluted basis, regulatory approvals, and the absence of material adverse changes as further described in the Offer Document.

Transocean’s shares are listed on the New York Stock Exchange (the “NYSE”) under the symbol “RIG.” 

The approval of the Consideration Shares and Shares issuable upon exchange of the Exchangeable Bonds for listing on the NYSE is also a condition to the Offer.
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