Shipping tycoon John Fredriksen is set to raise his stake in Seadrill (SDRL +2%), after selling...

|About: Seadrill Limited (SDRL)|By:, SA News Editor

Shipping tycoon John Fredriksen is set to raise his stake in Seadrill (SDRL +2%), after selling shares earlier this year, as the rig contractor’s share price has slumped in recent months. Fredriksen will exercise a put option to buy back up to 6M shares from Goldman Sachs, or a quarter of the 24M shares it sold for more than $1B earlier this year.