Seadrill to exit SapuraKencana

SapuraKencana's pipelay support vessel Sapura Onix at the IHC shipyard in 2015.

PETALING JAYA: Seadrill Ltd is seeking to sell up to RM815mil worth of shares in SapuraKencana Petroleum Bhd, marking its exit as a shareholder in the Malaysian oil and gas firm, sources say.

Seadrill is said to be seeking a valuation of between RM1.56 to RM1.66 per share for its block of some 490 million shares. This would represent a discount of between 6.2% and 11.9% to SapuraKencana’s closing price of RM1.77 in the open market yesterday.