Norwegian shipping tycoon buys Valaris

With a share purchase of 5 percent, shipping magnate John Fredriksen becomes a major stakeholder in US drilling company Valaris. Parties form a collaboration agreement. The acquisition is the latest among several made by Fredriksen.

John Fredriksen depicted in aviator sunglasses | Photo: Ints Kalnins/Reuters/Ritzau Scanpix

BY JENS THOMSEN, SHIPPINGWATCH, TRANSLATED BY JONAS SAHL HOLLÆNDER

Norwegian-Cypriot shipping billionaire John Fredriksen buys stock in US-based drilling company Valaris, now a big shareholder holding 5-percent interest, says Valaris in a statement .

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