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Equity

Put options prove their worth in complex Seadrill sale

When shipping magnate John Fredriksen sold $1bn of stock in his oil rigs firm Seadrill at the beginning of March, he did so by offering a package of put options to give investors downside protection. The value of that structure was revealed this week, as he chose to take physical settlement on a portion of the deal following a declining stock price, writes Nick Jacob.

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