ADES to Acquire Shelf Drilling in $380 Million Deal
Deal News | Aug 05, 2025 | Zawya
Saudi Arabian oil drilling group ADES International Holding has announced its agreement to acquire Oslo-listed Shelf Drilling for approximately $379.33 million (3.9 billion Norwegian crowns) in cash. This offer reflects a 62% premium over Shelf Drilling's closing price on the announcement day and has received the recommendation of Shelf's board. The acquisition will allow ADES to enhance its standing as a leader in the shallow-water offshore drilling market by combining resources to operate 83 offshore jack-up drilling rigs. The transaction is scheduled to be finalized in the fourth quarter of 2025, pending shareholder and regulatory approvals.
Sectors
- Oil and Gas
- Offshore Drilling
Geography
- Saudi Arabia – ADES International Holding is a Saudi Arabian company, with major operations and strategic influence stemming from this country.
- Norway – Shelf Drilling is listed on the Oslo Stock Exchange, indicating that Norway is an important geographical aspect to the transaction.
Industry
- Oil and Gas – This industry is relevant as both ADES International and Shelf Drilling operate within the oil and gas sector, specifically focusing on offshore drilling services.
- Offshore Drilling – The core activities of both companies involve offshore drilling services, which is critical to their operations and the transaction described.
Financials
- $379.33 million – The purchase price offered by ADES International Holding to acquire Shelf Drilling.
- 14 crowns per share – The price per share offered by ADES International, representing a 62% premium over the closing price.
- 3.9 billion Norwegian crowns – The total transaction value in Norwegian currency.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ADES International Holding | Bidding Company | Company | Saudi Arabian oil drilling company acquiring Shelf Drilling. |
| Shelf Drilling | Target Company | Company | Oslo-listed offshore drilling company being acquired by ADES. |
| Mohamed Farouk | CEO | People | CEO of ADES International Holding, representing the company's strategic stance in the acquisition. |