Seadrill plans up to $305m Malaysian selldown

Joseph Keefe
Wednesday, April 09, 2014

SapuraKencana Petroleum Bhd's second largest shareholder plans to sell up to $305 million worth of shares in the Malaysian oil and gas services firm, according to a term sheet of the deal seen by Reuters.

Norway's Seadrill Ltd., the world's top offshore oil driller, is offering up to 230 million shares of SapuraKencana at 4.3 ringgit each, putting the total value of the deal at up to 989 million ringgit ($305 million). The price is equivalent to a 3.4 percent discount to Wednesday's closing price of 4.45 ringgit.

The deal consists of a base offer of 180 million shares, with an option to grow by 50 million shares, according to the terms.

Maybank was hired as sole placing agent for the selldown. ($1 = 3.2410 Malaysian Ringgits)

 

Reporting by Elzio Barreto

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Transpacific Box Shippers Plan Freight Rate Rise

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.

Container Volumes on the Rise in South Carolina

Container volume up 13 percent at South Carolina Ports Authority; Charleston benefiting from federal appropriations    The SC Ports Authority announced another

Liebherr Expects Turnover Dip

For the 2014 business year, the Liebherr Group is currently anticipating an overall turnover of 8,866 million euros (2013: 8,964 million euros). In the area of construction machines and mining,

Energy

Rig Moves: Mobilized for Performance

The operation of an oil field involves moving rigs or jackups in a maneuver referred to as a rig move. These complex operations require experience and the coordination of all stakeholders.

FPSO Trio Receives Side Shell Protection

SPS Overlay has yet again been used for side impact protection on three FPSOs for a major player in the offshore industry. The work was carried out at Enseada do Paraguaçu S.

INTERTANKO Launches ECA Bunker Surcharge Clauses

INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA).   Rising bunker prices due to rising oil prices and

Offshore Energy

FPSO Trio Receives Side Shell Protection

SPS Overlay has yet again been used for side impact protection on three FPSOs for a major player in the offshore industry. The work was carried out at Enseada do Paraguaçu S.

Vard Wins Farstad's OSCV Contract

Vard Holdings Limited (“VARD”) has secured a contract for the design and construction of one Offshore Subsea Construction Vessel (“OSCV”) for Farstad Shipping (“Farstad”).

US Jury Rules in Favor of Apache Corp.

Apache Corp was not in breach of contract in a lawsuit brought by Houston-based oil and gas producer W&T Offshore Inc in 2011, a federal jury found on Monday, according to a court filing.

 
 
Maritime Security Naval Architecture Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1141 sec (9 req/sec)