HAMILTON, Bermuda (Bloomberg) -- North Atlantic Drilling Ltd., the rig-owner controlled by billionaire John Fredriksen, will hand OAO Rosneft a stake valued at more than $1 billion in return for land rigs and cash, deepening ties amid sanctions on Russia. North Atlantic will issue Rosneft about 100 million new shares at $9.25 apiece, giving Russia’s biggest oil company about a 30% stake, said Rune Magnus Lundetrae, CFO of Seadrill Ltd., which owns 70% of North Atlantic. At a closing price of $10.3 on Aug. 21, such a stake is valued at more than $1 billion.
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