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Seadrill cuts ties to North Atlantic Drilling

As part of a new deal with banks, John Fredriksen's Seadrill has to end all financial aide to listed subsidiary North Atlantic Drilling, which according to SEB, will run out of money this year, writes Dagens Næringsliv.

Photo: North Atlantic Drilling

A deal with banks is now forcing John Fredriksen's rig company Seadrill to cut all financial relief to subsidiary North Atlantic Drilling. This relief helped keep the listed subsidiary afloat, reports Norwegian newspaper Dagens Næringsliv.

Fredriksen's Seadrill bags crucial credit agreement

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