Maples advises on take over of Eurasia Drilling Company Limited
Maples and Calder advised the special committee of independent directors of Eurasia Drilling Company Limited, a Cayman Islands company listed on the Main Market of the London Stock Exchange, in relation to the merger under Cayman Islands law with EDC Acquisition Company Limited which would have resulted in the delisting and acquisition of shares by Schlumberger in a transaction valued at US$3.2bn. The transaction was subject to a number of conditions and not all conditions were satisfied. The transaction terminated in September 2015. Jack Marriott led Maples' London-based team which then subsequently advised the special committee on a take-private transaction by management and certain core shareholders structured as a merger under Cayman Islands law as a result of which Eurasia Drilling Company Limited delisted. This latter transaction valued Eurasia Drilling Company Limited at US$1.7bn approximately and completed on 17 November 2015.