China Oilfield Services Ltd, a Hong Kong-listed arm of China National Offshore Oil Corporation is expected to announce a deal to buy Norwegian offshore driller Awilco Offshore.
The exact price of the deal is not revealed. Awilco's market capitalization is $2.1 billion. Speculation of a deal between the two heated up a few weeks ago. Trading in China Oilfield shares was suspended, the Hong Kong exchange said. A company official told that an announcement could be made and a press conference on the major transaction will be held.
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