Norway's Seadrill Sells Rig Business to SapuraKencana

Norwegian offshore rig firm Seadrill is selling is Asian tender rig business to SapuraKencana, Reuters reported Monday.

The price is around $1.3 billion (€1.10bn), but the final amount will depend on the settlement of a $187 million seller's note.

Seadrill will also receive a large number of shares in the Kuala Lumpur-based company, supplementing its existing 6.4% stake.