Asia

SapuraKencana Petroleum raising cash for Seadrill purchase

Kuala Lumpur: Malaysia’s SapuraKencana Petroleum is about to make RM1.64bn via a private placement of 587m shares. The money will be used in its proposed acquisition of the tender-rig business of Norway’s Seadrill. The acquisition of the $2.9bn Norwegian business is expected to be concluded this month.  [05/04/13]

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