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Vantage Drilling International Nears Merger Completion with Eldorado Drilling Unit

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Vantage Drilling International (VDI.OL) said Thursday it expects all conditions for its planned merger with a wholly owned subsidiary of Eldorado Drilling to be met by Friday.

Upon completion, Vantage Drilling will become a wholly owned subsidiary of fellow Norwegian offshore drilling company Eldorado Drilling, and its shareholders will receive $19 per share in cash consideration.

Vantage Drilling requested suspension of its shares on the Oslo stock exchange, effective June 29, to facilitate the settlement of the consideration.

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