Vantage Drilling, a Bermuda-based exempt offshore drilling contractor, has received the blessing of its shareholders for its proposed business combination with Eldorado Drilling, an offshore drilling company backed by a group of well-known Norwegian investors.
Vantage Drilling disclosed the results of the Special General Meeting (SGM) held on June 18, 2026 at the law offices of Conyers Dill & Pearman in Bermuda, following El Dorado I took the necessary steps to obtain Vantage Drilling in a $257.6 million cash deal, backed by a $125 million commitment from major shareholders.
“All matters proposed in the SGM Notice have been approved, including the proposed merger pursuant to which a wholly-owned subsidiary of Eldorado Drilling AS would be merged with and into the Company, with the Company remaining as a wholly-owned subsidiary of Eldorado Drilling AS.” Bermuda exempt company confirmed.
This merger is expected to enhance drilling capabilities, customer relations and investment capacity. However, completion of the business combination remains subject to certain conditions.
Once effected as a legal merger under Bermuda law, Vantage will become a wholly-owned subsidiary of Eldorado, but the name of the remaining company will remain Vantage Drilling International.
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