EnergyWatch

Fredriksen buys USD 300 million of Seadrill claims from banks

John Fredriksen has bought more than USD 300 million in claims against Seadrill from the company's lenders, and he is set to remain the by far biggest owner of the drilling company, which plans to finish its Chapter 11 proceedings next month.

Photo: Photo: Seadrill

Billionaire John Fredriksen bought more than USD 300 million in claims against Seadrill Ltd. from the company's banks, further tightening his grip on the offshore driller as it prepares to emerge from bankruptcy protection.

Fredriksen is set to remain the biggest owner of Seadrill, which plans to exit Chapter 11 proceedings in the first half of next month after a Texas court approved its restructuring plan.

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