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MI - Frontline to acquire 10 Suezmax tankers for up to $675MM - September 2019
Geneva-based commodity trader Trafigura’s marine logistics subsidiary agreed to sell 10 Suezmax tankers to Frontline Ltd. for $538-547 million cash and 16,035,856 ordinary shares of Frontline at an agreed price of $8.00/share. With a total value of $666.29-675.29 million, the deal will make Trafigura a strategic shareholder in NYSEand Oslo-listed Frontline with an 8.48% equity stake. Closing is scheduled between Nov. 15 and March 15. The 10 tankers were all built during 2019 in......
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