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PaxOcean Group

Company Summary

Description

PaxOcean Group operates six shipyards across the region, leveraging on its core competencies in newbuilding, repair and conversion of vessels and floating facilities serving Marine, Offshore, Energy production and Power industries

Website

https://www.paxocean.com/

Operational Regions

  • International

Recent news

  • 2/14/2019 - Noble Purchases Second... (subscriber access)
  • 9/21/2018 - Noble Corp. Purchases... (subscriber access)

Company Transactions

Date: 2/14/2019
Type: Acquisition

BUYERS:
  • Noble Corporation plc
    • SELLERS:
  • PaxOcean Group
    • DETAILS:

    COST: 83.75 $MM

    NOTES:
    Noble exercised an option for the purchase of a second newbuild Gusto MSC CJ46 design jackup rig from the PaxOcean Group for $83.75 million.

    Date: 9/21/2018
    Type: Acquisition

    BUYERS:
  • Noble Corporation plc
    • SELLERS:
  • PaxOcean Group
    • DETAILS:

    COST: 93.75 $MM

    NOTES:
    Noble Corporation reported that they have purchased a newbuild Gusto MSC CJ46 Jackup Rig from PacOcean Group. Noble paid $33.75 million of the $93.75 million purchase price in cash, with the remaining price financed at a 4.25% interest rate paid in cash and 1.25% paid in kind over terms of the financing.
    REGIONS:
  • Middle East