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International Seaways and Diamond S merge in stock-for-stock transaction


1 April 2021 (Last Updated April 1st, 2021 12:31)
Tanker firm International Seaways (INSW) and energy shipping company Diamond S Shipping have decided to merge in a stock-for-stock transaction.
The combined company will have an enterprise value of nearly $2bn and own roughly 100 vessels on a pro forma basis. Credit: Lars Nissen from Pixabay.
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Tanker firm International Seaways (INSW) and energy shipping company Diamond S Shipping have decided to merge in a stock-for-stock transaction.
This comes after the companies’ boards of directors unanimously sanctioned a definitive merger agreement.
The companies stated that the merger will result in the formation of the second-largest US-listed tanker company by ship count and third-largest by deadweight ton (dwt). ....

Craig Stevenson Jr , Lois Zabrocky , International Seaways , Diamonds Shipping , கிரேக் ஸ்டீவன்சன் ஜூனியர் , சர்வதேச கடல் வழிகள் , வைரங்கள் கப்பல் போக்குவரத்து ,

Tanker Operator International Seaways and Diamond S Shipping announce merger


Apr 01 2021
International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”) and Diamond S Shipping Inc. (NYSE: DSSI) (“Diamond S”), two of the leading tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, announced that their Boards of Directors have unanimously approved a definitive merger agreement pursuant to which INSW will merge with Diamond S in a stock-for-stock transaction.
Subsequent to the merger, INSW and Diamond S shareholders will own approximately 55.75% and 44.25% of the combined company, respectively, using fully diluted share counts as of March 30, 2021.
 
The merger of Diamond S with INSW unites two companies with long-term customer relationships, similar cultures, and complementary positions in key tanker sectors. The merger will enhance INSW’s capabilities in both the crude and product markets and create “power a ....

Craig Stevenson Jr , Nadim Qureshi , Skandinaviska Enskilda Banken , Jeffrey Pribor , Lois Zabrocky , Nordea Bank Abp , International Seaways , International Flag , Diamonds Shipping Inc , International Seaways Inc , Investment Bank , Diamonds Shipping , Chief Executive Officer , Chief Financial Officer , Capital Ship Management , Agricole Corporate , கிரேக் ஸ்டீவன்சன் ஜூனியர் , நாடிம் கரிஶி , சர்வதேச கடல் வழிகள் , சர்வதேச கொடி , வைரங்கள் கப்பல் போக்குவரத்து இன்க் , சர்வதேச கடல் வழிகள் இன்க் , முதலீடு வங்கி , வைரங்கள் கப்பல் போக்குவரத்து , தலைமை நிர்வாகி அதிகாரி , தலைமை நிதி அதிகாரி ,