Deal With Myself for Maximum Leverage

“It is not necessary to own everything to control everything. Fredriksen is not the first to discover this, but rarely has anyone known to use it to such an extent. Since Fredriksen raided Swedish Frontline back in 1996, he has made countless transactions with himself on both sides of the table. It started with the sale of large parts of the private fleet to Frontline in exchange for shares, which gave Fredriksen complete control of the company, and has been a steady stream since.”

“In addition to buying and selling ships, construction contracts, options, and loans from himself, there are many lesser touchpoints between Fredriksen and the stock companies he controls. Frontline leases services to the other listed companies and to Fredriksen's private enterprises, and all of them rent premises at Aker Brygge. By Fredriksen privately. No one asks about anything.”