| Notes |
In the 1980s, Loews Corporation, a diversified conglomerate headquartered in New York purchased substantially all of DMDC’s assets from Kaneb. In 1982, DMDC, under Loews’ ownership, purchased all of ODECO’s outstanding stock. In 1993, DMDC was renamed Diamond Offshore.
Until October 1995, Diamond Offshore remained a wholly-owned subsidiary of Loews. That year, Loews sold 30% of the Company in an initial public offering, and Diamond Offshore began trading on the New York Stock Exchange under the ticker symbol “DO.” In 1996, Diamond Offshore acquired Arethusa (Offshore) Ltd. in a stock transaction, reducing Loews’ ownership in the Company to 54%. |