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Trøim's latest IPO hits problems as CEO is accused of corruption

The CEO of Hygo Energy Transition, part of Tor Olav Trøim's Golar LNG, finds itself tangled in a new corruption case in Brazil. Hygo is headed for an IPO in New York, but these plans are now on hold, report media.

Tor Olav Trøim is behind, among other companies, Borr Drilling and Golar LNG. | Photo: PR / Marine Money/Marine Money

Tor Olav Trøim's latest plans for an IPO have encountered problems after the company's CEO has been dragged into a corruption case in Brazil.

On Thursday it was revealed that Brazilian police have raided Norwegian drilling company Seadrill's offices in a case that is part of the multiple-year investigation of corruption in state-owned oil major Petrobras.

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Once the contracts for two of Seadrill's drilling rigs expire, around 400 of the company's 1,050 employees are at risk of losing their jobs, reports media. Labor union expects the carrier to announce dismissals prior to Christmas.

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