SDRL - Seadrill completes the integration of the tender rig business into SapuraKencana

SDRL - Seadrill completes the integration of the tender rig business into 
SapuraKencana 
HAMILTON, BERMUDA -- (Marketwired) -- 04/30/13 --  We refer to the
press releases dated November 5, 2012, and February 11, 2013, which
announced the transaction to integrate Seadrill Limited's
("Seadrill") tender rig division into SapuraKencana
Petroleum Berhad
("SapuraKencana") and the signing of the conditional Sale
and
Purchase Agreement ("SPA") between the parties. 
Seadrill and SapuraKencana have today 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. 
John Fredriksen, Chairman, President and Director of Seadrill says in
a comment,
"We are pleased to have completed this important
transaction with our long- term
partner, SapuraKencana. We look
forward to support the integration of the tender
rig fleet in order
to facilitate a smooth and orderly transition for the customers. This
transaction will free up significant financial flexibility
for
Seadrill, and the proceeds will as previously stated be used over
time to continue to aggressively grow our modern ultra-deepwater and
jack-up exposure." 
This information is subject of the disclosure requirements pursuant
to section
5-12 of the Norwegian Securities Trading Act. 
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
that: 
(i) the releases contained herein are protected by copyright and    
other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and     
originality of the information contained therein. 
Source: Seadrill Limited via Thomson Reuters ONE 
[HUG#1698152] 
Seadrill Limited
P.O. Box HM 1593
Par-la-Ville Place
14 Par-la-Ville Road
HM 08 Hamilton, Bermuda
T. +1 441 295 6935
F. +1 441 295 3494
 
 
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