Eurasia Drilling Compnay:the buyback of deep drilling.
Edited by Rhod Mackenzie / 2015-11-10 06:46:02
Finance Oil and Gas Russia Financial results Shares Russia Oil and Gas Eurasia Drilling Lukoil Rosneft
The share buyback of EDC faces the minorities.
The main shareholders of Russia's largest drilling company Eurasia Drilling Company (EDC), intending to redeem their shares but may face problems. One of the minority shareholders of EDC - UCP investment fund of Ilya Shcherbovich - does not agree with the price announced for the share buyback and called other minority shareholders not to accept the offer. As the sources of "the Kommersant" inform, in the end the major shareholders of EDC are going to sell it to a major Russian oil company, but there is a risk that UCP will challenge the buyback in courts of the Cayman Islands. At least it can delay the deal indefinitely.
