DALLAS, Texas -- Ensco International will move its headquarters and legal domicile from the US to the UK subject to stockholders approval.
According to the company, the move will:
- Enhance management efficiencies resulting from the UK time zone overlap with geographies where Ensco operates
- Improve access to key customers
- Enhance access to European institutional investors
- Allow Ensco to benefit from the UK’s developed tax regime and extensive tax treaty network.
“Relocating most of our senior executives to a new corporate office in the UK, where we currently have substantial operations, is a logical next step in Ensco’s evolution as a global offshore drilling contractor,” says Dan Rabun, Ensco’s chairman, president, and CEO. “The new corporate headquarters will facilitate executive oversight of our global operations and senior executives will be closer to more of our customers.”
The UK-based parent company will be named Ensco International plc (Ensco UK).
Ensco plans UK move
Ensco International will move its headquarters and legal domicile from the US to the UK subject to stockholders approval.