"Rosneft" and North Atlantic Drilling sign asset swap agreement
August 22, 2014
OJSC "Rosneft" and Norwegian drilling company, North Atlantic Drilling Limited (NADL) specialized in operations in harsh environments, and its primary shareholder, Seadrill Limited, signed a framework agreement for long-term cooperation in the implementation of projects for the provision of oilfield services. According to this agreement, "Rosneft" will acquire NADL shares through an exchange of assets as well as investments in the share capital of the company.
The final terms of the transaction, including the amount of the monetary contribution to the charter capital of NADL, will be determined after the closing of necessary corporate and accounting procedures, which is expected by late 2014.
After the signing of the agreement, the CEO of NADL, Alf Ragnar Lovdal, said, "We are very pleased to have achieved this important transaction and welcome ’Rosneft’ as a new equity partner and a member of the Board of Directors." 
As a tool for the secure exchange of documents in the implementation of this transaction, the parties used the iDeals™ virtual data room.
iDeals™ Solutions has been a provider of secure document management services to the investment, legal and life sciences sectors since 2008. Our flagship product is iDeals™ VDR, a next-generation application that is utilized by companies and leading advisors in over 30 countries around the world.
For further information, visit the iDeals™ Solutions website (www.idealscorp.com) or contact the nearest office in your region:
44 Wall Street, 12th Floor, NY 10005, USA
+1 888 822 5141
+1 646 843 6060
Albert Buildings, 49 Queen Victoria Street, London EC4N 4SA, United Kingdom
+44 (0) 203 514 2571
+44 (0) 800 048 8172
51/F Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong
+852 5808 2376
Tevfik Fikret Cd., Kucukbakkalkoy Mh., Dumankaya Flex, No:38 K:14 D: 84, Atasehir, Istanbul, 34750, Turkey
+90 212 988 0244
3 Glinischevsky Pereulok, Moscow, 125009 Russia
+7 495 660 38 64
+7 800 333 4807
21-3, Marshala Timoshenko St., Kyiv, 04212 Ukraine
+38 044 594 6933