Deals
SapuraKencana Buys Seadrill Tender Rigs in $2.9 Billion Deal
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SapuraKencana Petroleum Bhd., Malaysia’s biggest oil and gas services company, agreed to buy Seadrill Ltd.’s tender-rig operations in a $2.9 billion deal.
Seadrill, the Norwegian oil-rig company controlled by billionaire John Fredriksen, will receive $350 million of new SapuraKencana shares as part of the deal, doubling its stake to about 13 percent, according to a stock exchange filing in Kuala Lumpur today. The transaction is subject to approval from existing customers, Seadrill said in a separate statement.