Report: Seadrill covets Saipem drilling division

|About: Seadrill Limited (SDRL)|By:, SA News Editor

Seadrill (SDRL) reportedly is interested in buying Saipem's offshore drilling business in a deal that could cost as much as €3.9B.

Such a deal could be positive for both Saipem (SAPMY, SAAYY) and parent Eni (E) by cutting their debt levels, analysts say.

Proceeds from SDRL’s planned New York listing of its 74%-owned North Atlantic Drilling subsidiary could provide the funding for such an acquisition.