Transocean Seeks to Sell Oil Exploration Arm, Sunday Times Says
Transocean Ltd. (RIGN), owner of the oil rig contracted to BP Plc that blew up in the Gulf of Mexico last year, hired Bank of America Merrill Lynch to sell its oil exploration arm, the Sunday Times reported, without saying where it got the information.
The company hopes to get 60 million pounds ($99 million) for the division known as Challenger Minerals, the newspaper said.
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