Seadrill triumphs with $198m SapKen block

By John Loh
28 Apr 2016

Seadrill has sold the remainder of its stake in SapuraKencana Petroleum via a MR774.72m ($198.35m) accelerated share sale, putting to bed a deal that failed to clear only three weeks ago.

On Wednesday, Morgan Stanley launched an up to MR814m trade with co-bookrunner Maybank, in a bid to help Norwegian drilling giant Seadrill exit one of Malaysia’s largest oil and gas services firms. The lead-up to the deal, however, was far from auspicious.

Two banks had attempted a trade in early ...

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