About company news experience Partners Media Vacancies Contacts Contacts Company phone: ( 495) 916-19-49 Work with us: (495) 917-79-59 Email: personal@axiom-service.com news UCP is not against the takeover of EDC by a strategic investor - partner of the fund 09 November 2015 UCP is not against the takeover of EDC by a strategic investor - partner of the fund November 9. OilCapital.ru. Ilya Scherbovich's United Capital Partners / UCP / fund, which owns 1.825% of shares in the oilfield services company Eurasia Drilling Company / EDC /, is not against the acquisition of EDC by a strategic investor. The fund's partner Alexei Knyazhev told TASS about this . "UCP is not against the acquisition of EDC / or a separate business of the company / a strategic investor. But such a deal must take place at a fair price and provided that all shareholders receive the same compensation per share," Knyazhev said. According to him, Eurasia Drilling "faces serious lawsuits." "Such precedents of infringement of the interests of investors harm not only the reputation of Eurasia Drilling, but also the investment climate in Russia as a whole," he added. As UCP reported earlier, it is not satisfied with the price of the offer of the main shareholders and EDC management to buy out the oilfield services company's shares from minority shareholders at a price of $ 11.75. The fund indicated that the EDC valuation contained in the Schlumberger proposal / $ 22 / "is an objective benchmark for EDC's value." The fund invited other minority shareholders to officially notify EDC of their disagreement with the merger before the date of the shareholders' meeting. EDC intends to carry out a buyback of shares at a price of $ 11.75 per share in order to further sell the consolidated stake. The decision to buy out was made after the failure of the Schlumberger deal, which intended to buy 46% of the service company with the subsequent possibility of consolidation up to 100%. The closure of the deal was impeded by the power structures, which, under the conditions of the sanctions, objected to the arrival of foreigners in the capital of the Russian service company. In their opinion, this could threaten industrial and economic security. Eurasia Drilling Company was formed on the basis of LUKOIL's service assets, which were acquired in 2004 by the structures of Alexander Japaridze. Now the largest co-owners of Eurasia are Alexander Japaridze with a 30.2% stake (he is also the CEO) and Alexander Putilov with 22.4%. ← Back to news archive news 12/14/2015 / 10:00 LLC "Axioma-Service" wishes everyone a Happy New Year! 09.11.2015 / 14:01 UCP is not against the takeover of EDC by a strategic investor - partner of the fund 10/14/2015 / 10:26 Potential division of EDC business will not affect geological exploration in Russia - Donskoy 10.10.2015 / 13:20 EDC does not abandon plans to sell the company - Fitch 01.10.2015 / 11:46 5 people leave Eurasia Drilling Board of Directors 09/30/2015 / 12:41 FAS has not yet received from Schlumberger documents confirming the cancellation of the transaction to purchase EDC 09/25/2015 / 15:00 RF requirements for Schlumberger on deal with Eurasia Drilling were not voluntaristic - Peskov 09/21/2015 / 16:01 Foreign Investment Commission may consider Schlumberger's deal with EDC in mid-October 08/26/2015 / 15:01 Schlumberger buys Cameron for $ 14.8 billion 08/25/2015 / 13:51 Eurasia Drilling Shares Down 9% Amid Troubled Schlumberger Deal News archive Found a typo? Select it, press Ctrl + Enter and send us a notification. Axiom-Service © 2011 * All rights reserved Our phone: (495) 917-79-59