EUROPE

Paragon moves to replace Prospector board

FOLLOWING its acquisition of 93.5% of the company, New York exchange-listed Texan company Paragon Offshore has lodged a formal request for an AGM at which it will seek to appoint new directors to the board of Luxembourg-headquartered Prospector Offshore Drilling.

Andrew Snelling

Paragon moves to replace Prospector board

Paragon paid around $US188.6 million ($A220.9 million) for the stake in Prospector, completing the transaction last week. The company will call for a reduction in the number of directors at Prospector...

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