Fishery shares to fund Fredriksen's oil flop

John Fredriksen has sold off a major part of his stake in fishery group Marine Harvest. The sale arrives after the shipping magnate's fortune has taken serious blows from the low oil price, while Fredriksen's drilling company Seadrill is working on a rescue plan potentially totaling a billion dollars.

BY DANIEL LOGAN BERG-MUNCH

The Norwegian-Cypriot shipping magnate John Fredriksen has sold a third of his majority stake in the fishery group Marine Harvest for a total of USD 510 million, according to Bloomberg.

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Seadrill CEO attends weekly debt meetings with Fredriksen
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Seadrill gets a breather with postponed drilling vessels
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John Fredriksen's fortune down 40 pct

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