Seadrill’s plan to list its Brazilian arm has hit a stumbling block.
The holdup to Seabras’ $700m Sao Paulo IPO comes while it looks to make some structural changes following dialogue with Petrobras.
In a statement to investors Seabras says the overhaul will push the float back until April 2012.
Last week Seadrill said it was looking to seal the BRL 1.25bn ($713m) listing by 13 February.
Today,
