Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/seadrill-has-financed-a-portion-of-its-exposure-to.shtmlSeadrill has financed a portion of its exposure to Sevan Drilling
Seadrill Limited has financed a portion of its exposure to Sevan Drilling ASA (Sevan) through a forward agreement.
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Seadrill Limited has financed a portion of its exposure to Sevan Drilling ASA (Sevan) through a forward agreement. Seadrill has sold 120,065,464 shares and received a forward agreement with exposure to the same number of shares. The shares have been sold at NOK 3.95 per share.
The forward agreement runs until November 6, 2013 and has a strike price of NOK 3.9737.
Seadrill controls 297,941,358 shares of Sevan, either through direct ownership or forward agreements, representing 50.11% of all issued shares of Sevan.
