John Fredriksen buys majority stake in Solstad company

Solstad-owned shipping company Dess Aquaculture gets NOK 700 million in a share capital increase that is to finance a newbuild program. The emission means that two companies controlled by John Fredriksen will constitute the major part of the shipping company.

Dess Aquaculture, which is partly owned by financially struggling Solstad Offshore, gets NOK 700 million (USD 82 million) in a capital share increase which leaves the majority of the shipping company in the hands of John Fredriksen, reports Dagens Næringsliv.

The two John Fredriksen-controlled companies, Hemen Holding and Marine Harvest, constitute the majority of Dess Aquaculture. After the emission, Hemen Holding will own 50 percent of the company, whereas Marine Harvest will own 30 percent. Thus, the two companies jointly own 80 percent, and the remaining 20 percent is owned by Solstad Offshore.

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