ADES International Holding, a subsidiary of ADES Holding Company, which is part of Saudi Arabia-headquartered ADES Group, has tightened its grip on 33 jack-up rig additions to its fleet by revising its cash merger offer to bring the UAE-based Shelf Drilling into its fold. As a result, more than half of the shareholder base has endorsed the takeover bid.

UAE-based International Holding Holding Company Saudi Arabia Castle Harlan China Merchants Anchorage Capital Group Magallanes Value Investors Projects Shelf Drilling Following Aside Perestroika MOPU ADVERTISE Offshore-Energy