Result of the Mandatory Offer for All Outstanding Shares in Sevan Drilling ASA

By MarEx 2013-08-29 15:26:00

Reference is made to Seadrill Limited's ("Seadrill") mandatory offer to purchase all of the shares in Sevan Drilling ASA ("Sevan") at NOK 3.95 per share which expired on Thursday, August 22, 2013 (the "Offer").

Seadrill has received acceptances of the Offer totalling 47,394 shares. At completion of the offer Seadrill will control 297,941,358 shares of Sevan, either through direct ownership or forward contracts, representing 50.11% of all issued shares of Sevan.

In accordance with the terms and conditions set out in the Offer Document, settlement according to the Offer will take place as soon as reasonably possible and no later than on September 5, 2013. 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

The products and services herein described in this press release are not endorsed by The Maritime Executive.