Investment fund Hayfin has offloaded its entire 5.2% stake in John Fredriksen's drillship venture Northern Drilling.
The Oslo-listed shipowner said that three Hayfin funds had sold 5.6m shares in the company at NOK 74.5 each.
This compares to a price of NOK 76.80 on Friday and would have netted Hayfin NOK 417.2m ($51.42m).
Northern Drilling this month agreed to buy two drillships cancelled at DSME by Fredriksen's restructuring Seadrill company for $592m.
