Seadrill to Launch Offer for Sevan Drilling Takeover

Seadrill Limited issued June 26, a mandatory notification of trade regarding purchase of shares in Sevan Drilling ASA.

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.

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.

In a press release issued today Seadrill said it intended to submit a mandatory offer for all shares outstanding in Sevan Drilling that are not owned by Seadrill.

[mappress]

June 27, 2013