Archer Limited: Iceland Drilling acquisition closed
Hamilton, Bermuda (November 16, 2022) Reference is made to the press release on August 8, 2022, wherein Archer announced its acquisition of 50% of the shares in geothermal drilling company Iceland Drilling Company Ltd. (“Iceland Drilling”), subject to Icelandic competition authority approval. We are pleased to announce that the transaction closed today, in accordance with previously communicated terms. Following the closing of the transaction, Archer will own 50% of the shares in Iceland Drilling and Kaldbakur ehf. will own the other 50%. Dag Skindlo, CEO of Archer Limited