Fredriksen buys stake in Norwegian wind service company

With a purchase of a 10.6 percent stake in wind carrier Edda Wind, John Fredriksen is entering the offshore wind market with the expectation of an investment in a growth market. Israeli shipping tycoon Idan Ofer also buys shares in Edda Wind.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Wind service company Edda Wind will be joined by the richest person in Norway, John Fredriksen, who assumes the role of co-owner in connection with a share issue expected to raise NOK 875 million (USD 102 million).

According to a press release, Fredriksen's Geveran Trading is buying a stake in Edda Wind in connection with an imminent IPO.

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