Friday, November 22, 2024

Fredriksen's Seadrill Stake Could be Cut with Restructuring

Posted by February 26, 2018

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 

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