Wednesday, May 4, 2011

Qatar firm says signs letter of intent to buy two Keppel rigs

Qatari firm Gulf Drilling International has signed a letter of intent (LOI) to buy two jackup rigs from Singapore’s Keppel Corp (KPLM.SI) in a deal that could be worth US$400 million ($491.8 million).

The news was published on Gulf Drilling’s website. A Keppel spokeswoman said the firm did not announce deals when they are still at the LOI stage.

DMG & Partners, a Singapore brokerage, estimated the deal to be worth around US$400 million.
 

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