The unidentified partner, characterised as a “strong industrial player”, will initially acquire from Seadrill a minority interest in North Atlantic based on its current share price with the option of buying a majority stake at a premium price at a later date under the pact unveiled by the John Fredriksen-backed rig giant on Thursday.
North Atlantic Drilling and the partner would also aim for a US listing immediately on closing of the deal, which is expected in the third quarter.The
