Mumbai: Great Offshore Ltd (GOL), the Mumbai-based integrated offshore oilfield services company, has made an offer to buy a controlling stake in an unnamed overseas company. The deal size is hoped to be over $500 million (around Rs 2,000 crore). The overseas company will own two semi-submersible drilling rigs that are estimated to cost around $1.40 billion. Motilal Oswal Investment Advisors was the advisor and Luthra & Luthra the legal advisor for the transaction. GOL was looking at taking over oil rigs and stakes in oil rig companies for sometime. GOL is eyeing at supplying rigs to these firms.
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