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SeaDrill Ltd Acquires 64.23% of Shares in Asia Offshore Drilling Ltd; Launches Mandatory Offer for Remaining Shares

Friday, 26 Oct 2012 02:58am EDT 

SeaDrill Ltd (Seadrill) announced that after close of trading on Oslo Bors on October 25, 2012, Seadrill acquired 12,190,858 shares of Asia Offshore Drilling Ltd (Asia Offshore). The shares were acquired at a price of USD 5.0 per share (equals NOK 28.71 based on the USD/NOK exchange rate set by the Norwegian Central Bank on October 25, 2012). Following this acquisition, Seadrill will be the owner of 25,690,958 shares in Asia Offshore, corresponding to 64.23% of the total number of outstanding shares in Asia Offshore. As a consequence, Seadrill will proceed with the launch of a mandatory cash offer for the remaining shares in Asia Offshore. Such a mandatory offer will be launched as soon as practicably possible, within the time limits set out in chapter six of the Norwegian Securities Trading Act. RS Platou Markets AS act as financial advisor to Seadrill in connection with the offer. 

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