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Seadrill completes the integration of the tender rig business into SapuraKencana


Published May 2, 2013
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Seadrill secures new contract for West Hercules-Spotlight

Seadrill and SapuraKencana have completed the previously announced transaction pursuant to the conditional SPA.

The agreed upon acquisition price is for an enterprise value of US$2.9 billion, which includes cash, SapuraKencana shares, all debt in the tender rig business, and Seadrill's future capital commitments for newbuilds.

The incremental 400.8 million shares received by Seadrill today bring Seadrill's equity holding to approximately 12 percent of the outstanding shares of SapuraKencana. At today's closing share price of RMB3.18, Seadrill's total shareholding will have a gross value of approximately US$753 million. In addition, John Fredriksen, Chairman of Seadrill Limited, is a nominee to the Board of Directors of SapuraKencana.

Tags: SapuraKencana, Seadrill



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