Seadrill Ltd — Major Shareholding Notification 2019

Feb 14, 2019

SC 13G/A 1 schedule13ga-sdrl.htm FORM SC 13G/A Saba Capital Management, L.P.: Schedule 13G/A - Filed by newsfilecorp.com

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934 (Amendment No.1)*

Seadrill Ltd (Name of Issuer)

Common Stock (Title of Class of Securities)

G7998G106 (CUSIP Number)

December 31, 2018 (Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[_] Rule 13d-1(b)

[X] Rule 13d-1(c)

[_] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes ).

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SCHEDULE 13G/A

CUSIP No. G7998G106

1	Names of Reporting Persons Saba Capital Management, L.P.
2	Check the appropriate box if a
member of a Group (see instructions) (a) [ ] (b) [ ]
3	Sec Use Only
4	Citizenship or Place of
Organization Delaware
Number
of Shares Beneficially Owned by Each Reporting Person With:	5	Sole Voting Power -0-
	6	Shared Voting Power 543,205
	7	Sole Dispositive Power -0-
	8	Shared Dispositive Power 543,205
9	Aggregate Amount Beneficially
Owned by Each Reporting Person 543,205
10	Check box if the aggregate amount
in row (9) excludes certain shares (See Instructions) [
]
11	Percent of class represented by
amount in row (9) 0.54%
12	Type of Reporting Person (See
Instructions) PN; IA

The percentages used herein are calculated based upon 100,000,000 shares of common stock outstanding as of 9/30/2018, as disclosed in the company's press release 11/27/2018

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SCHEDULE 13G/A

CUSIP No. G7998G106

1	Names of Reporting Persons Boaz R. Weinstein
2	Check the appropriate box if a
member of a Group (see instructions) (a) [ ] (b) [ ]
3	Sec Use Only
4	Citizenship or Place of
Organization United States
Number
of Shares Beneficially Owned by Each Reporting Person With:	5	Sole Voting Power -0-
	6	Shared Voting Power 543,205
	7	Sole Dispositive Power -0-
	8	Shared Dispositive Power 543,205
9	Aggregate Amount Beneficially
Owned by Each Reporting Person 543,205
10	Check box if the aggregate amount
in row (9) excludes certain shares (See Instructions) [
]
11	Percent of class represented by
amount in row (9) 0.54%
12	Type of Reporting Person (See
Instructions) IN

The percentages used herein are calculated based upon 100,000,000 shares of common stock outstanding as of 9/30/2018, as disclosed in the company's press release 11/27/2018

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Item 1.

(a)	Name of Issuer: Seadrill Ltd
(b)	Address of Issuer’s Principal Executive Offices: Par-La-Ville Place, 14 Par -La -Ville Road

Hamilton D0 HM 08 14412956935

Item 2.

(a) Name of Person Filing: Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital") and Mr. Boaz R. Weinstein (together, the "Reporting Persons”). The Reporting Persons have entered into a Joint Filing Agreement, dated July 12, 2018, pursuant to which the Reporting Persons have agreed to file this statement and any subsequent amendments hereto jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any of the forgoing persons or the Reporting Persons is, for the purposes of Section 13 of the Act, the beneficial owner of the Common Stock reported herein.

| (b) | Address of Principal Business Office or, if None,
Residence: The address of the business office of Saba Capital and Mr.
Weinstein is 405 Lexington Avenue, 58th Floor, New York, New York
10174. |
| --- | --- |
| (c) | Citizenship: Saba Capital is organized as a
limited partnership under the laws of the State of Delaware. Mr. Weinstein
is a citizen of the United States. |

| (d) | Title and Class of Securities: Common stock (the
"Common Stock"). |
| --- | --- |
| (e) | CUSIP No.: G7998G106 |

ITEM 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d -2(b) or (c), check whether the person filing is a:

| (a) | [] | Broker or dealer registered under Section 15 of
the Act; |
| --- | --- | --- |
| (b) | [] | Bank as defined in Section 3(a)(6) of the Act; |
| (c) | [] | Insurance company as defined in Section
3(a)(19) of the Act; |
| (d) | [] | Investment company registered under Section 8
of the Investment Company Act of 1940; |
| (e) | [] | An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E); |
| (f) | [] | An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F); |
| (g) | [] | A parent holding company or control person in
accordance with Rule 13d-1(b)(1)(ii)(G); |
| (h) | [] | A savings associations as defined in Section
3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
| (i) | [] | A church plan that is excluded from the
definition of an investment company under section 3(c)(14) of the
Investment Company Act of 1940; |
| (j) | [] | A non-U.S. institution in accordance with Rule
240.13d-1(b)(1)(ii)(J); |

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(k) [_] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

ITEM 4. Ownership

(a) Amount Beneficially Owned: The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.

| Item 5. | Ownership of Five Percent or Less of a
Class. |
| --- | --- |
| | If this statement is being filed to report the fact that
as of the date hereof the reporting person has ceased to be the beneficial
owner of more than 5 percent of the class of securities, check the
following [X]. |
| Item 6. | Ownership of more than Five Percent on
Behalf of Another Person. N/A |
| Item 7. | Identification and classification of the
subsidiary which acquired the security being reported on by the
parent holding company or control person. N/A |
| Item 8. | Identification and classification of members
of the group. N/A |
| Item 9. | Notice of Dissolution of Group. N/A |
| Item 10. | Certifications. |
| | By signing below each Reporting Person certifies that, to
the best of his or its knowledge and belief, the securities referred to
above were not acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as
a participant in any transaction having that purpose or effect. |

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SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: 2/14/2019

/s/ Signature Michael D’Angelo

Name: Michael D’Angelo

Title: Chief Compliance Officer

Boaz R. Weinstein

By: Michael D’Angelo

Title: Attorney-in-fact***

*** Pursuant to a Power of Attorney dated as of November 16, 2015

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