The Seadrill spin-off is looking toraise up to $225m through an initial public offering (IPO) backed by Citigroup underthe ticker SDLP.
In a preliminary prospectus filed withthe US Securities and Exchange Commission, the Hamilton, Bermuda-based company saidproceeds will likely be used to acquire interests in two floaters, aself-erector and a drillship controlled by affiliates of its parent.
The partnership intends to purchase thesemisubmersible drilling rigs West Aquarius (built 2009), West Vencedor (built2010) and West Capricorn (built 2011) outright and a 56% stake in the entitythat owns and operates the West Capella, a drillship delivered in 2008.
SeadrillPartners is led by several members of John Fredriksen’s shipping empireincluding chief executive Graham Robjohns, who holdsthe same title at Golar LNG Partners, finance chief Rune Magnus Lundetrae andchairman Tor Olav Troim, the Norwegian tycoon’s long-time lieutenant.
Friday’s filingmay not come as a surprise given recent publicity sparked by statements fromSeadrill chief Alf Thorkildsen, who said the float would probablycome sometime in the fourth quarter and hopes to list two other affiliates,North Atlantic Drilling and Seabras, in 2013.
Explore the factboxes located to the right of this article for access to the IPO prospectus, aprofile of John Fredriksen and other features
