Transocean falls as it expects non-cash charge of up to $645 mln in Q3

Transocean

03/09/2024 14:36

** U.S.-listed shares of offshore drill services firm
Transocean  RIG.N  fall 1.5% to $4.67
    ** Company enters agreement with third party to sell certain
assets for a total amount of about $342 million
    ** RIG expects the sale of the assets to result in a
non-cash charge ranging from $630 million to $645 million in Q3
    ** Transactions are expected to close in Q3 2024
    ** RIG to use all proceeds from the sales to repay existing
debt
    ** Including sessions' moves, stock down ~27% YTD
    

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com))