Industrialist John Fredriksen is seeking investors to take larger stakes in his ...
“There are several ways this could be done,” he told business daily Finansavisen, while adding he did not plan to leave day-to-day operations to his twin daughters.Instead, Fredriksen could seek to build even larger firms via mergers, and thus allow other industrial players to become the top owners of individual companies in his portfolio, he told TradeWinds, a shipping industry newspaper.
Another way to transfer power would be to bring outside investors with sufficient resources and skill into the companies as they are today, he added. Frontline, one of the companies in the group, recently bought a fleet of oil tankers from Trafigura, making the Geneva-based trading house the second-largest owner of that firm with a stake of 8.5%, while Fredriksen holds 42%.The group was not immediately available for comment when contacted by Reuters.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MSNBC’s Lawrence O’Donnell Apologizes, Retracts Trump Finance StoryAt the start of his MSNBC show The Last Word on Wednesday, host Lawrence O’Donnell apologized for his report that Russian billionaires co-signed Deutsche Bank loans to Trump, hours after one …
Read more »
UK Conservatives' Scotland leader Davidson set to quit: media reportsRuth Davidson, leader of the Conservative Party in Scotland, is set to quit due ...
Read more »
Trump Slams Lawrence O’Donnell, Media Following Russia Loan Report Retraction: ‘All Apologize!’President Trump took to Twitter early Thursday morning to slam MSNBC host Lawrence O’Donnell, who was forced to apologize and retract a report Wednesday that alleged some of Trump’s loa…
Read more »
Best Buy shares fall after reporting second-quarter revenue and same-store sales missesInvestors were pessimistic even though Best Buy reported earnings that beat expectations by 9 cents and raised its guidance for the fiscal year.
Read more »
Prince Harry and Meghan Markle Had the Ultimate Low-Key British DateAfter a busy summer of travels, Prince Harry and Meghan Markle enjoyed a quintessential British day date back in London.
Read more »