Eurasia Drilling cancels its listing on LSE from November 18th

​Eurasia Drilling cancels the listing on the LSE from November 18th.

The plan of the deal on the purchase of shares by the major shareholders of Eurasia Drilling from the minority shareholders has been approved, is reported. The shares will be purchased on November 20th.

The purchase of shares at $11.75/share will be held on the account of the loan attracted from Rosbank at the volume of $150 mln. It will be issued until the end of November 2018.

The decision on the purchase of shares from the minority shareholders was made after the failure of the deal with Schlumberger which planned to purchase 46% of the company at $22/share with an opportunity of further consolidation of up to 100%. The closing of the deal was banned by the security agencies which opposed the appearance of foreigners in the capital of the Russian company in the conditions of sanctions. They say it might do harm to the industrial and economic safety.

The minority shareholders said that they would agree with the minimal price of $17-18/share. They may file a claim to the court so as to put in question this idea.