SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
MARINE DRILLING COMPANIES, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
568240204
(CUSIP Number)
Martin H. Neidell
Stroock & Stroock & Lavan
7 HANOVER SQUARE, NEW YORK, NEW YORK 10004 212-806-5836
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
APRIL 9, 1996
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /
Check the following box if a fee is being paid with the statement / / (A
fee is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of _____ Pages
<PAGE>
SCHEDULE 13D
CUSIP No. 568240204 Page 2 of Pages
- -----------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
| |
| | Warburg, Pincus Capital Company, L.P.
- ------------------------------------------------------------------------------
| | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* |
| 2 | (a) | |
| | (b)| X |
| |
- ------------------------------------------------------------------------------
| 3 | SEC USE ONLY
| |
- ------------------------------------------------------------------------------
| 4 | SOURCE OF FUNDS*
| |
| | Not Applicable
| |
- ------------------------------------------------------------------------------
| | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
| 5 | ITEMS 2(d) OR 2(e) | |
| |
| |
| |
| |
- ------------------------------------------------------------------------------
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
| |
| | Delaware
| |
- -------------------------------------------------------------------------------
| NUMBER OF | 7 | SOLE VOTING POWER
| SHARES --------------------------------------------------------------
| BENEFICIALLY | 8 | SHARED VOTING POWER 5,241,119
| OWNED BY --------------------------------------------------------------
| EACH | 9 | SOLE DISPOSITIVE POWER
| REPORTING --------------------------------------------------------------
| PERSON | 10 | SHARED DISPOSITIVE POWER 5,241,119
| WITH | |
- -------------------------------------------------------------------------------
| 11| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| |
| | 5,241,119
- -----------------------------------------------------------------------------
| | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
| 12| | |
| |
| |
- -------------------------------------------------------------------------------
| 13| PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| |
| | 11.94%
- ------------------------------------------------------------------------------
| 14| TYPE OF REPORTING PERSON*
| |
| | PN
| |
- ------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ------------------------------ -------------------------------
|CUSIP No. 568240204 | | Page 3 of Pages |
- ------------------------------ -------------------------------
- ------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
| |
| | E. M. Warburg, Pincus & Co., Inc.
- ------------------------------------------------------------------------------
| | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
| 2 | (a)| |
| |
| |
| | (b)| X |
| |
- ------------------------------------------------------------------------------
| 3 | SEC USE ONLY
| |
| |
- ------------------------------------------------------------------------------
| 4 | SOURCE OF FUNDS*
| |
| | Not Applicable
| |
- ------------------------------------------------------------------------------
| | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
| 5 | ITEMS 2(d) OR 2(e) | |
| |
| |
| |
| |
- -------------------------------------------------------------------------------
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
| |
| | Delaware
| |
- -------------------------------------------------------------------------------
| NUMBER OF | 7 | SOLE VOTING POWER
| SHARES ---------------------------------------------------------------
| BENEFICIALLY | 8 | SHARED VOTING POWER 5,241,119
| OWNED BY --------------------------------------------------------------
| EACH | 9 | SOLE DISPOSITIVE POWER
| REPORTING --------------------------------------------------------------
| PERSON | 10 | SHARED DISPOSITIVE POWER 5,241,119
| WITH | |
- -------------------------------------------------------------------------------
| 11| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| |
| | 5,241,119
- ------------------------------------------------------------------------------
| | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
| 12| | |
| |
| |
- ------------------------------------------------------------------------------
| 13| PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| |
| | 11.94%
- ------------------------------------------------------------------------------
| 14| TYPE OF REPORTING PERSON*
| |
| | CO
| |
- ------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ------------------------------ -------------------------------
|CUSIP No. 568240204 | | Page 4 of Pages |
- ------------------------------ -------------------------------
- ------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
| |
| | Warburg, Pincus Ventures, Inc.
- -------------------------------------------------------------------------------
| | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
| 2 | (a)| |
| |
| | (b)| X |
| |
- -------------------------------------------------------------------------------
| 3 | SEC USE ONLY
| |
| |
- ------------------------------------------------------------------------------
| 4 | SOURCE OF FUNDS*
| |
| | Not Applicable
| |
- ---------------------------------------------------------------------------
| | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
| 5 | ITEMS 2(d) OR 2(e) | |
| |
| |
| |
| |
- ------------------------------------------------------------------------------
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
| |
| | Delaware
| |
- ------------------------------------------------------------------------------
| NUMBER OF | 7 | SOLE VOTING POWER
| SHARES ----------------------------------------------------------
| BENEFICIALLY | 8 | SHARED VOTING POWER 5,241,119
| OWNED BY ----------------------------------------------------------
| EACH | 9 | SOLE DISPOSITIVE POWER
| REPORTING ----------------------------------------------------------
| PERSON | 10 | SHARED DISPOSITIVE POWER 5,241,119
| WITH | |
- -----------------------------------------------------------------------------
| 11| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| |
| | 5,241,119
- -----------------------------------------------------------------------------
| | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
| 12| | |
| |
| |
- -----------------------------------------------------------------------------
| 13| PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| |
| | 11.94%
- -------------------------------------------------------------------------------
| 14| TYPE OF REPORTING PERSON*
| |
| | CO
| |
- ------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ------------------------------ -------------------------------
|CUSIP No. 568240204 | | Page 5 of Pages |
- ------------------------------ -------------------------------
- ------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
| |
| | Warburg, Pincus & Co.
- -------------------------------------------------------------------------------
| | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
| 2 | (a)| |
| |
| | (b)| X |
| |
- -------------------------------------------------------------------------------
| 3 | SEC USE ONLY
| |
| |
- -------------------------------------------------------------------------------
| 4 | SOURCE OF FUNDS*
| |
| | Not Applicable
| |
- ------------------------------------------------------------------------------
| | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
| 5 | ITEMS 2(d) OR 2(e) | |
| |
| |
| |
| |
- ------------------------------------------------------------------------------
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
| |
| | New York
| |
- ------------------------------------------------------------------------------
| NUMBER OF | 7 | SOLE VOTING POWER
| SHARES ---------------------------------------------------------------
| BENEFICIALLY | 8 | SHARED VOTING POWER 5,241,119
| OWNED BY --------------------------------------------------------------
| EACH | 9 | SOLE DISPOSITIVE POWER
| REPORTING --------------------------------------------------------------
| PERSON | 10 | SHARED DISPOSITIVE POWER 5,241,119
| WITH | |
- ------------------------------------------------------------------------------
| 11| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| |
| | 5,241,119
- -------------------------------------------------------------------------------
| | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
| 12| | |
| |
| |
- ------------------------------------------------------------------------------
| 13| PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| |
| | 11.94%
- ------------------------------------------------------------------------------
| 14| TYPE OF REPORTING PERSON*
| |
| | PN
| |
- ------------------------------------------------------------------------------
<PAGE>
This Amendment No. 7 amends the Schedule 13D dated November 6, 1990 (the
"Original Schedule 13D") as amended by Amendment No. 1 dated August 17, 1990,
Amendment No. 2 dated July 15, 1992, Amendment No. 3 dated April 9, 1992,
Amendment No. 4 dated December 29, 1992, Amendment No. 5 dated June 29, 1993 and
Amendment No. 6 dated March 26, 1996 filed by Warburg, Pincus Capital Company,
L.P. ("WPCC") and certain of its affiliated entities (the "Reporting Entities")
relating to the common stock, par value $.01 per share (the "Common Stock"), of
Marine Drilling Companies, Inc. (formerly Marine Holding Company), whose
principal executive offices are located at One Sugar Creek Center Boulevard,
Suite 600, Sugar Land, Texas 77478 (the "Company"). Terms defined in the
Original Schedule 13D, as amended, shall have the same meaning when used herein.
This amendment is being filed pursuant to Rule 13d-2 of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended.
ITEM 4. PURPOSE OF TRANSACTION.
The shares of Common Stock of the Company owned by the Reporting Entities
have been registered for resale by the Reporting Entities pursuant to an
effective registration statement filed by the Company with the Securities and
Exchange Commission. Subject to stock market conditions, the price of the Common
Stock and other considerations, the Reporting Entities presently intend either
to sell, in open market transactions, shares of Common Stock of the Company
owned by them or to distribute such shares to the partners of WPCC. The number
of shares of Common Stock to be sold or distributed by the Reporting Entities,
and the time period during which such shares will be sold or distributed, will
depend on various factors, including those enumerated above and other
considerations which the Reporting Entities may deem relevant. The Reporting
Entities intend to review their investment in the Company on a continuing basis
and, depending upon the price of the Common Stock, subsequent developments
affecting the Company, the Company's business and prospects, general stock
market and economic conditions, tax considerations and other factors deemed
relevant, may decide to stop selling its Common Stock or increase the number of
shares of Common Stock to be sold.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended to include the following paragraphs:
On April 9, 1996, WPCC sold in open market transactions an aggregate
of 4,750,000 shares of Common Stock as follows:
Number of Shares Price Per Share
1,600,000 $8.207
2,400,000 8.125
750,000 8.3125
As the result of the transactions described above, WPCC now owns an
aggregate of 5,241,119 shares of Common Stock, which shares constitute
approximately 11.94% of the outstanding shares of Common Stock of the Company.
The power to vote and dispose of all such shares is exercised on behalf of WPCC
by WP in its capacity as the sole general partner of WPCC.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
WARBURG, PINCUS CAPITAL COMPANY, L.P.
By: WARBURG, PINCUS & CO.,
General Partner
By:/S/ STEPHEN DISTLER
Stephen Distler, Partner
E. M. WARBURG, PINCUS & CO., INC.
By:/S/ STEPHEN DISTLER
Stephen Distler, Managing Director
WARBURG, PINCUS VENTURES, INC.
By:/S/ STEPHEN DISTLER
Stephen Distler, Managing Director
WARBURG, PINCUS & CO.
By:/S/ STEPHEN DISTLER
Stephen Distler, Partner
Dated: April 9, 1996
