May 30, 2012 / 12:16 PM / 5 years ago

Seadrill sells $200 mln stake in SapuraKencana

OSLO, May 30 (Reuters) - Deep sea driller Seadrill , controlled by shipping tycoon John Fredriksen, sold 300 million shares in Malaysia’s SapuraKencana Petroleum Bhd for around $200 million to take a profit on its investment.

“The sale of part of the shares is in line with Seadrill’s strategy to realize gains from its investment portfolio and use these funds to fund future growth within its core drilling business and also optimize dividend capacity,” Fredriksen said in a statement.

Seadrill will continue to hold 6.4 percent or 319.5 million shares in SapuraKencana, it said.

Reporting by Balazs Koranyi

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