NEC will own 42.5% of CM and 57.5% of EdM subsequent to the closing of the transaction.
This acquisition will:
The Company has received positive feedback from discussions held with its Brazilian banks with regards to financing the acquisition and its development costs.
The seller is Queiroz Galvão Perfuração SA.
NEC is pleased with this acquisition that further solidifies our presence in Brazil and improves the Company's influence over the future development of these significant assets.
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