Noble sold all its Smedvig shares to SeaDrill for Nkr4.7 billion ($730 million), giving the Norwegian company 99% of Smedvig's voting A-shares and 96.6% of the B-shares. Adjusted for Smedvig's own B-shares, SeaDrill now holds 99% of the Smedvig capital.
This investment will not leave Noble boss Jim Day with many fond memories. It was Day who made the initial grab for Smedvig last December, when Noble purchased 39% of the A-shares and 29% of the B-shares from Peter Smedvig and family.
However,
