Neal Kissel, and a team from Marakon advised the board of directors and executive team at AKITA Drilling on its recent announced acquisition of Fox Drilling from Paramount Resources.
The transformational transaction enhances AKITA’s size and scale as a top-tier specialized North American drilling company; adding a fleet of six triple drilling rigs, five of which are high specification AC walking rigs. The transaction is expected to be accretive to key financial metrics.
In connection with this acquisition, AKITA will also undertake a reorganization of its share capital, which will result in the elimination of AKITA’s dual class share structures.
Neal Kissel’s experience working with family-controlled public companies, and Marakon’s financial rigour and strategic thinking, were instrumental in aiding the board in its decision making.
