Fredriksen's Seadrill Stake Could be Cut with Restructuring
Shipping tycoon John Fredriksen will be allowed to cut his ownership in rig firm Seadrill (SDRL) to five percent over three years from a present stake of 24 percent, according to a debt restructuring deal with banks and other creditors.
The new plan would see $1.08 billion in new capital injected in the company instead of $1.06 billion under the initial plan, court filings showed on Monday.
Reporting by Nerijus Adomaitis
