Seadrill Offers Its Stakes in Oil Service Firms to debtholders

Offshore drilling rig contractor Seadrill said on Monday it has proposed to creditors to turn over its stakes in oil services firms Archer and Seadrill Seabras to redeem its outstanding secured notes.

The company controlled by Norwegian-born billionaire John Fredriksen has been in talks with creditors since the end of last year over new debt restructuring.

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