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Friday, August 22, 2014

Russia's Rosneft says to acquire shares in North Atlantic Drilling, (NYSE: SDRL)

Russia's top crude oil producer Rosneft said on Friday it had agreed to swap assets and acquire shares in Norway's North Atlantic Drilling Limited (NADL), despite sanctions over the Ukraine crisis.In a separate statement, NADL said that Rosneft will get an approximately 30 percent stake in the company by receiving primary shares at the price agreed upon previously of $9.25 per share, with the balance being paid to NADL in cash.The deal was first announced in May.Following the transaction, Seadrill Limited, the world's largest offshore driller, will continue to own more than 50 percent of NADL.

Seadrill Limited an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry. Shares of SDRL fell by 0.53% or $-0.2/share to $37.37. In the past year, the shares have traded as low as $32.40 and as high as $48.09. On average, 4080630 shares of SDRL exchange hands on a given day and today's volume is recorded at 2382394.