Seadrill Wants Remaining Sevan Drilling Shares

MarineLink.com
Thursday, July 25, 2013

Seadrill announces mandatory offer for all outstanding shares in Sevan Drilling.

On June 27, 2013 Seadrill Limited announced that it had acquired 116,934,875 shares in Sevan Drilling ASA  at a price of NOK 3.95 per share and its intention to launch a mandatory offer for all the outstanding shares in Sevan Drilling not owned by Seadrill.

They now announce the launch of the Offer  on the terms and conditions set out in the offer document dated July 24, 2013. A cash consideration of NOK 3.95 per share will be offered, equalling the cash offer in the completed Acquisition. The acceptance period commences tomorrow and expires at 16:30 (CET) on August 22, 2013.

Seadrill explain that the Offer will not be made in any jurisdiction in whichit would not be in compliance with the laws of such jurisdiction. The Offer will not be made in or into Canada, Australia or Japan. This notification does not in itself constitute an offer. The Offer will only be made on the basis of the offer document dated July 24, 2013 and can only be accepted pursuant to the terms of such document.

DNB Markets is acting as financial advisor and receiving agent for Seadrill.

The offer document for the Offer has been sent to all shareholders registered in VPS as of July 24, 2013. It is also available upon request at DNB Bank ASA, Registrars Department, Dronning Eufemias gate 30, N-0021 Oslo, Norway or by visiting www.dnb.no/emisjoner .

 

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

People & Company News

TOTE Finalizes Charter for LNG Containerships

World’s first LNG powered containerships to serve Puerto Rico TOTE, Inc. announced an agreement today between its operating companies TOTE Shipholdings Inc.

Hamburg Süd Opens Office in India

Hamburg Süd announced the opening of an office in Gandhidham, India, on October 1, 2014. It is the second branch office in the state of Gujarat. Hamburg Süd already has three offices in Mumbai,

GAC Marine Logistics Shifts Central Office to Singapore

In a move that brings it closer to key Asian markets, ship spares logistics specialist GAC Marine Logistics (GML) has relocated its head office to Singapore. The

Finance

Oil Traders Say OPEC May Be Heading for Price War

Saudi Arabia's decision to slash the official selling price for its oil has sparked trader talk of an emerging OPEC price cutting war, as members of the producer

Yara Completes Acquisition of OFD Holding

Yara International ASA has obtained relevant regulatory approvals and closed the acquisition of OFD Holding Inc. (OFD) allowing the integration process to start.

Vallianz Acquires OER Holdings for $28m

Vallianz Holdings Limited, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has today announced that it is acquiring OER Holdings Pte.

Mergers & Acquisitions

Yara Completes Acquisition of OFD Holding

Yara International ASA has obtained relevant regulatory approvals and closed the acquisition of OFD Holding Inc. (OFD) allowing the integration process to start.

Jaccar Holdings & Hartmann form JV

Jaccar Holdings of Luxemburg and Hartmann Group of Leer, Germany, announce the establishment of a joint venture for the commercial management of ethane carriers.

Ahrenkiel Steamship Consolidates Entire Fleet at DNV GL

Ahrenkiel Steamship, the newly formed German ship management company, will consolidate its entire fleet at DNV GL. Nick Topham managing director of Ahrenkiel Steamship and Tor E.

Offshore Energy

Wave Energy Conversion Competition Offers Cash Prize

Ricardo has been selected by the U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy to administer a ocean Wave Energy Converter (WEC) prize challenge,

Seismic Cooperation in Barents Sea Gives New Perspectives

Statoil and its partners have completed their joint seismic acquisition project in the south-eastern Barents Sea. New forms of cooperation have ensured resource-efficient acquisition.

Vallianz Acquires OER Holdings for $28m

Vallianz Holdings Limited, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has today announced that it is acquiring OER Holdings Pte.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1130 sec (9 req/sec)