Seadrill (SDRL) is set to seal a proposed $2.9B deal to sell its tender rig business to...

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

Seadrill (SDRL) is set to seal a proposed $2.9B deal to sell its tender rig business to Malaysian JV partner SapuraKencana Petroleum after finalizing details of the cash-and-shares transaction. An earlier agreement on a merger of the two companies’ existing tender rig business now has SapuraKencana taking on capital commitments plus outstanding debt of $780M as part of the acquisition price.