EnergyWatch

Seadrill loses equity holding in Seadrill Partners with new rescue plan

Offshore company Seadrill Partners plans to convert debt into equity as part of its restructuring. As a result, however, parent company Seadrill is pushed out and loses its equity holding, writes Finansavisen.

Photo: Seadrill Partners

Seadrill now loses its equity holding in subsidiary Seadrill Partners, which is undergoing a restructuring.

Part of the plan includes Seadrill Partners converting debt totaling USD 2.7 billion into equity. As a result of this, parent company Seadrill loses its ownership stake, reports Finansavisen.

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