Trafigura becomes Frontline's no. 2 shareholder with big Suezmax buy [Seeking Alpha]
Frontline Plc Ordinary Shares (FRO)
Last frontline plc ordinary shares earnings: 2/27 01:30 am
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Source: Seeking Alpha
Trafigura becomes Frontline's no. 2 shareholder with big Suezmax buy - Frontline Ltd. (NYSE:FRO) | Seeking Alpha Commodities | Energy On the Move Trafigura becomes Frontline's no. 2 shareholder with big Suezmax buy Aug. 23, 2019 7:32 AM ET Frontline Ltd. (FRO) Carl Surran Frontline (NYSE: +5.8% agreeing to acquire FRO's second biggest shareholder Under the deal terms, Trafigura will take an 8.5% stake in FRO valued at $128M and receive a cash payment of $538M-$547M. FRO says it will time-charter the 10 vessels, which were built this year and fitted with scrubbers that will help them meet the upcoming IMO 2020 marine fuels rules, until the deal closes between November 2019 and March 2020. At a price of $66.5M-$67.4M per vessel based on yesterday's FRO, the deal is in line with current market values, according to analysts at Arctic Securities. See all stocks on the move » Now read: Tanker Powerhouse: Frontline With Major Acquisition » Subscribe
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FRO
Earnings
- 11/27/24 - Miss
FRO
Sec Filings
- 12/16/24 - Form 6-K
- 11/27/24 - Form 6-K
- 11/13/24 - Form SC
- FRO's page on the SEC website