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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%.

February 27, 2008

The daughter of a billionaire shipping magnate has joined the board of her father’s company.

The daughter of a billionaire shipping magnate has joined the board of her father's company. Kathrine Fredriksen, 24, has been made a director of Frontline Ltd, the Bermuda-based shipping company owned and run by her father, John Fredriksen.

She is replacing Tor Olav Trøim who joined the company in 1997 but has resigned to concentrate on various other roles in the Fredriksen empire. The company has said that Trøim will continue to support the board in financial matters and will act as an alternate director for Kathrine Fredriksen

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