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John Fredriksen's elaborate hat-trick

It seems like that there were smiles across the board at the offices of John Fredriksen's companies last week, where the Norwegian-born shipping magnate completed tree major deals.

Photo: Richard Drew/AP/POLFOTO/arkiv
BY KATRINE GRØNVALD RAUN

John Fredriksen pulled several rabbits out of his hat last week. Within four days, he completed three major transactions with companies in his extensive portfolio.

On Monday last week, Fredriksen sold his drilling rig company Northern Offshore to Chinese buyer Shangdong Offshore Company for around USD 165 million. With the purchase, Shangdong acquires Norther Offshore's four drilling rigs and floating production facility. Norther Offshore also has jack-up rigs set for delivery, also included in the acquisition.

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