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Seadrill Ltd to Submit Mandatory Offer for All Shares Outstanding in Sevan Drilling ASA

Thursday, 27 Jun 2013 02:52am EDT 

Sevan Drilling ASA announced that Seadrill Ltd issues on June 26, 2013 a notification of trade regarding purchase of shares in Sevan Drilling ASA. Following the notification Seadrill has on June 27, 2013 purchased an additional 116,934,875 shares in Sevan Drilling at a price of NOK 3.95 per share. Following the purchase, Seadrill owns (including shares purchased under forward agreements) 297,893,964 shares in Sevan Drilling, equal to 50.1% of the shares and the votes in Sevan Drilling. Pursuant to section six of the Norwegian Securities Act, Seadrill intends to submit a mandatory offer for all shares outstanding in Sevan Drilling that are not owned by Seadrill. 

Company Quote

0.04 +0.34%
24 Dec 2014