Clifford Chance

Clifford Chance advises on Seadrill's sale of stake in SapuraKencana Petroleum

International law firm Clifford Chance has advised Maybank Investment Bank Berhard as the placement agent on the international law aspects of the sale of 230 million shares of SapuraKencana Petroleum Berhad by Seadrill Limited, which raised RM989 million (approximately US$300 million).

"We are pleased to advise on the international aspects of another transaction in Malaysia," commented Capital Markets partner Raymond Tong who led the transaction. "There continues to be strong investor interest in Malaysian companies, signalling continued economic growth and stability in the market. In the past few months, we have advised as international counsel on a number of capital markets transactions in Malaysia, including Malaysia Airport Holdings' issuance of new shares to raise approximately US$298 million and the Malaysia Building Society's rights issue which raised approximately US$427.5 million (MYR1.4 billion)."

Raymond was supported by counsel Paul Kuo and senior associate Jeremy Ward in Singapore.

SapuraKencana is one of the world's largest integrated oil and gas services and solutions providers, and employs over 12,000 people across 15 countries worldwide. The principal business includes providing end-to-end solutions and services to the upstream petroleum industry.