John Fredriksen-backed Seatankers has acquired newbuild semi-submersible West Mira under a yard arbitration settlement with affiliate Seadrill, which is also backed by the billionaire shipping and offshore investor.

Seadrill said in a statement it will receive a cash payment of $170 million this month from Hyundai Samho Heavy Industries as “full settlement of the dispute” after the London-based driller earlier cancelled its contract with the South Korean yard.

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