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seadrill

March 2, 2012

The Fredriksen family, which controls deepwater drilling company Seadrill, has reduced its stake in the business, in an attempt to shore up its cash reserves to diversify the family’s other interests.

The Fredriksen family, which controls deepwater drilling company Seadrill, has reduced its stake in the business, in an attempt to shore up its cash reserves to diversify the family’s other interests.

That’s according to a statement by the Bermuda-based group, which said the family, through investment vehicle Hemen Holding, has cut its stake to 23% from 28%.

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