Oct 26 (Reuters) - Seadrill Ltd SDRL.OL :
* SDRL: SEADRILL ANNOUNCES CONFIRMATION OF PLAN OF REORGANIZATION
* FOLLOWING COURT'S APPROVAL OF PLAN, SEADRILL IS TARGETING AN EXIT OF CHAPTER 11 PROCEEDINGS IN APPROXIMATELY 60 DAYS
* ITS PLAN OF REORGANIZATION HAS BEEN CONFIRMED BY U.S. BANKRUPTCY COURT FOR SOUTHERN DISTRICT OF TEXAS
* PLAN RAISES $350 MILLION IN NEW FINANCING, REDUCES CO'S EXISTING LIABILITIES BY $4.9 BILLION, WHILE LEAVING EMPLOYEE, CUSTOMER, TRADE CLAIMS UNAFFECTED
* EXISTING SHAREHOLDERS WILL SEE THEIR HOLDING IN POST EMERGENCE ENTITY DECREASE TO 0.25%
Source text for Eikon: ID:nObinM0q2a Further company coverage: SDRL.OL
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