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International Seaways to acquire Bruton in about $370m deal
International Seaways has agreed to take over Oslo-listed VLCC company Bruton, backed by Tor Olav Trøim, in a transaction valuing the company at around $370m.
The agreement, announced on Friday, will see New York-listed tanker owner International Seaways acquire Bruton’s entire four-ship supertanker portfolio. The deal values the Oslo-listed VLCC company at around $370m.
International Seaways is led by Lois Zabrocky. According to the source material, the transaction goes considerably further than the initial sale of two newbuildings. Further terms, closing timing and regulatory details were not provided in the supplied text.
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