Seadrill Limited agreed to acquire an unknown minority stake in Aquadrill LLC for approximately $920 million.
Citibank International Limited is serving as sole financial advisor and David Emmons, Clint Rancher, Tom Fina, Jeff Oliver, Paul Lugard, Derek Green and Robin Melman of Baker Botts L.L.P. and Advokatfirmaet Thommessen AS are serving as legal counsel to Seadrill. Intrepid Partners, LLC is serving as sole financial advisor and Akin Gump Strauss Hauer & Feld LLP and Advokatfirmaet Schjødt AS are serving as legal counsel to Aquadrill. Hillary H. Holmes of Gibson, Dunn & Crutcher LLP is acting as legal advisor to Intrepid Partners, LLC.