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Norway shipping heir to sell out for $500m

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Norway shipping heir to sell out for $500m
Jo Kashi, one of the tankers on which the Odfjell fortune was built
10:43 CEST+02:00
Shipping heiress Marianne Odfjell has announced plans to sell off her 30 percent stake in Odfjell Drilling for about $500m in cash.
The sale opens the way for Odfjell Drilling to seek a listing on the Oslo stock exchange, which is expected to value it at between $1.2bn and $1.8bn.
Odfjell, 43, was Norway's fourth richest woman in 2007 after her father Abraham Odfjell passed over his shares in the company to her and her sister. 
At that time her sister Helena, 48, who received 70 percent of the shares to Marianne's 30 percent, was Norway's richest woman  Both have since moved to London to join their father, who has lived in Britain since 1994 and who now spends his life largely playing golf and teaching Tai Chi. 
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