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New Deal


Announced

TORM to acquire eight MR product tankers from Team Tankers for £95m.

Financials

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Transaction Value£95m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Bermuda

Private

Acquisition

product tankers

Pending

Friendly

Cross Border

Single Bidder

Majority

Marine Transportation

Synopsis

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TORM, a Danish shipping company, agreed to acquire eight MR product tankers from Team Tankers for £95m. As explained, the tankers have high technical specifications with six of the vessels having specialized cargo tank configurations and extended tank segregations (IMO 2), allowing for enhanced trading flexibility through chemical trading options, while still being able to work integrated into the existing One TORM operational platform.

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