Baker Botts Advises Noble In $2B Frontier Acquisition

Law360, New York (June 28, 2010, 1:49 PM EDT) -- Offshore drilling contractor Noble Corp. said Monday that it has agreed to buy FDR Holdings Ltd. in a cash transaction that values the privately held drilling company at $2.16 billion.

The deal will add six floating drilling units to Noble’s fleet, including two Bully-class drillships owned in a joint venture by FDR — which is known as Frontier Drilling — and Royal Dutch Shell PLC that are currently under construction, Noble said.

The Switzerland-based company has signed separate agreements with Shell that are subject to the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.