Deals
Seadrill Offers to Acquire 28.5% Stake in Sevan Drilling
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Seadrill Ltd., owner of the world’s second-largest ultra-deepwater fleet, offered to buy 28.5 percent in Sevan Drilling ASA as it targets growth in Brazil. Sevan Drilling shares surged the most since May.
Seadrill, whose largest shareholder is shipping tycoon John Fredriksen, offered to buy 96 million shares for $65.5 million through a group of brokers, Arendal, Norway-based Sevan Drilling said today in a statement. The completion is subject to Pareto Securities AS entering a definitive agreement with SV Unsecured Ltd. to buy the shares.