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Provider: Reuters Investment Profile
Provider: Wright Reports

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Sevan Drilling ASA Announces Preliminary Results of Mandatory Offer from SeaDrill Ltd

Friday, 23 Aug 2013 02:35am EDT 

Sevan Drilling ASA announced that with reference to the mandatory offer (the Offer) to acquire all outstanding shares in Sevan Drilling ASA made by Seadrill Ltd (the Offeror), that the acceptance period of the Offer expired on August 22, 2013 at 16:30 CET. The result of the Offer shows that the Offeror has received acceptance of the Offer for a total of 47,394 shares in Sevan Drilling, representing approximately 0.01% of the issued shares in Sevan Drilling. There may be adjustments to the preliminary result. The final result of the Offer will be announced at settlement of the Offer. Together with the 297,893,964 shares already held by the Offeror, the Offeror will, at completion of the Offer, hold or be exposed through forward contracts to 297,941,358 shares, representing 50.11% of all the issued shares of Sevan Drilling. In accordance with the terms and conditions set out in the Offer Document, settlement according to the Offer will take place as soon as reasonably possible and no later than on September 5, 2013. DNB Markets is acting as financial advisor and receiving agent for the Offeror. 

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