Aban Offshore Updates on acquisition by subsidiary Aban International Norway AS

With reference to the earlier announcement dated January 03, 2007, regarding acquisition of Shares in Sinvest ASA, Norway by M/s Aban International Norway AS, the Subsidiary of Aban Singapore Pte Ltd, Aban Offshore Ltd has announced that the OSLO Stock Exchange on January 09, 2007 has approved the Offer Document submitted by Aban International Norway AS, for a Mandatory Offer for acquiring the outstanding shares in Sinvest ASA, not held by Aban International Norway AS, and Aban Singapore Pte Ltd. The Mandatory Offer Commences on January 09, 2007 and ends on February 16, 2007.

Presently 50.01% of the share capital of Sinvest ASA, Norway is held by Aban International Norway AS and Aban Singapore Pte Ltd.

Further the Company has inform that, the Company has transferred its entire share holding in Aban Singapore Pte Ltd to Aban Holdings Pte Ltd, a wholly owned subsidiary of the Company.

Source : Equity Bulls

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