UPDATE 1-Transocean strikes $432 mln buyout deal for 2 rigs
May 07, 2012 at 12:17 PM EDT
May 7 (Reuters) - Transocean Ltd , owner of the world's largest offshore drilling fleet, will pay $432 million in shares to buy out its partner in a joint venture that owns two ultra-deepwater rigs working for Reliance Industries off India.