Seadrill Ltd — Major Shareholding Notification 2023

Feb 13, 2023

SC 13G 1 d9923552_13-g.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

| Seadrill
Limited |
| --- |
| (Name
of Issuer) |

| Common
shares, par value $0.01 per share |
| --- |
| (Title
of Class of Securities) |

G7997W102
(CUSIP
Number)

| December
31, 2022 |
| --- |
| (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)

[ ] Rule 13d-1(c)

[X] 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).

Field: Page; Sequence: 1

Field: /Page

CUSIP No G7997W102

1.	NAME OF REPORTING PERSONS
	DNB Bank ASA
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
	Kingdom of Norway
NUMBER OF SHARES BENEFICIALLY OWNED
BY EACH REPORTING PERSON WITH
5.	SOLE VOTING POWER
	3,433,142
6.	SHARED VOTING POWER
	0
7.	SOLE DISPOSITIVE POWER
	3,433,142
8.	SHARED DISPOSITIVE POWER
	0
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
	3,433,142
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)
	6.9%
12.	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) BK

Field: Page; Sequence: 2

Field: /Page

CUSIP No G7997W102

Item 1.
Seadrill Limited

(b).
Park Place 55 Par-la-Ville Road Hamilton HM 11, Bermuda

Item 2.
DNB Bank ASA

(b).
Dronning Eufemias Gate 30 0191 Oslo, Norway

(c).
Kingdom of Norway

(d).
Common shares,
par value $0.01 per share

	(e).
	G7997W102
Item 3.	If This Statement is filed pursuant
to ss.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 Exchange Act (15 U.S.C. 78c). |
| --- | --- | --- |
| (b) | [] | Bank as defined in Section 3(a)(6) of the Exchange
Act (15 U.S.C. 78c). |
| (c) | [] | Insurance company as defined in Section 3(a)(19)
of the Exchange Act (15 U.S.C. 78c). |
| (d) | [] | Investment company registered under Section 8
of the Investment Company Act of 1940 (15 U.S.C. 80a-8). |
| (e) | [] | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); |
| (f) | [] | An employee benefit plan or endowment fund in
accordance with § 240.13d-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 association 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 (15 U.S.C. 80a-3); |
| (j) | [] | Group, in accordance with s.240.13d-1(b)(1)(ii)(J). |

Field: Page; Sequence: 3

Field: /Page

ITEM 4. Ownership.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a)
3,433,142 shares

(b)
6.9% deemed beneficially owned

(c) Number of shares as to which DNB Bank ASA has:

| (i) | Sole power to vote or to direct the
vote | 3,433,142 | , |
| --- | --- | --- | --- |
| (ii) | Shared power to vote or to direct the vote | 0 | , |
| (iii) | Sole power to dispose or to direct the disposition
of | 3,433,142 | , |
| (iv) | Shared power to dispose or to direct the disposition
of | 0 | . |

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 five percent of
the class of securities, check the following [_]. |
| --- |
| Not
Applicable. |

ITEM 6. Ownership of More Than Five Percent on Behalf of Another Person.

| If any other person is known to have
the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement
to that effect should be included in response to this item and, if such interest relates to more than five percent of the class,
such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company
Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. |
| --- |
| Not Applicable. |

ITEM 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.

| If a parent holding company has filed
this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the
Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or
Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. |
| --- |
| Not
Applicable. |

Field: Page; Sequence: 4

Field: /Page

ITEM 8. Identification and Classification of Members of the Group.

| If a group has
filed this schedule pursuant to § 240.13d-1(b)(1)(ii)(J), so indicate
under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has
filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of
the group. |
| --- |
| Not
Applicable. |

ITEM 9. Notice of Dissolution of Group.

| Notice of dissolution
of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions
in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. |
| --- |
| Not
Applicable. |

ITEM 10. Certification.

Not Applicable.

Field: Page; Sequence: 5

Field: /Page

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.

| February
13, 2023 |
| --- |
| (Date) |

DNB BANK ASA
By:	/s/
Morten Jakobsen
	Name: Morten Jakobsen
	Title: Senior Vice President

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See s.240.13d-7 for other parties for whom copies are to be sent.

Attention. Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).