Seadrill increases ownership in Sevan Drilling to 50.1%
Seadrill Limited ("Seadrill") issued June 26, a mandatory notification of trade regarding purchase of shares in Sevan Drilling ASA ("Sevan Drilling"). Following the notification Seadrill has today purchased an additional 116,934,875 shares in Sevan Drilling at a price of NOK 3.95 per share, said in the company's press release.
Following the purchase, Seadrill owns (including shares purchased under forward agreements) 297,893,964 shares in Sevan Drilling, equal to 50.1 per cent of the shares and the votes in Sevan Drilling.
Pursuant to section 6 of the Norwegian Securities Act, Seadrill intends to submit a mandatory offer for all shares outstanding in Sevan Drilling that are not owned by Seadrill.
