Fredriksen increases stake in Valaris

John Fredriksen's investment company acquires additional shares in US drilling firm Valaris, which recently appointed former Seadrill CEO as its new chief executive.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Norwegian-Cypriot shipping magnate John Fredriksen's investment company has increased its shareholding in drilling firm Valaris.

Fredriksen bought into Valaris in early December through investment companies, after which he controlled around 5 percent of the US drilling company's stock.

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