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Deep Value Driller AS ( (DE:9YG) ) has issued an announcement.
Deep Value Driller AS has entered into a binding agreement to sell its 7th generation ultra-deepwater drillship “Deep Value Driller” to Eldorado Drilling AS for USD 300 million in cash, after receiving an unsolicited higher offer following an earlier deal announcement with Saipem. The board, citing its duty to act in shareholders’ best interests, declined to grant final approval to the lower-priced Saipem transaction and chose the Eldorado deal instead, securing a USD 70 million signing instalment and an expected closing in the third quarter of 2026.
The sale agreement carries no due diligence, regulatory or financing conditions, which reduces execution risk for Deep Value Driller and provides clearer visibility on proceeds. In parallel, the company has negotiated an extension of the maturity on its USD 125 million senior secured term loan facility to at least 1 August 2026, with an option to extend to 1 November 2026, and reiterated its intention to continue returning all available free cash, including net bareboat charter hire and net proceeds from the transaction, to shareholders.
More about Deep Value Driller AS
Deep Value Driller AS is a drillship-owning company focused on the offshore drilling sector, holding a high-specification ultra-deepwater 7th generation drillship built in 2014. The company’s strategy centers on creating and maximizing value for customers and investors while maintaining safe and sustainable operations for its drillship asset.
Average Trading Volume: 285,115
Current Market Cap: NOK1.76B
For an in-depth examination of 9YG stock, go to TipRanks’ Overview page.