Neptune Orient Lines (NOL), the Singapore flagship carrier, has completed the sale of its crude transportation arm American Eagle Tankers (AET) to Malaysia International Shipping Corporation (MISC).
The final documentation formalising the sale was signed in Singapore on Tuesday ending NOL's nine-year ownership of the lightering and crude transportation operation that it started in 1994.
Under the terms of the agreement, MISC paid a purchase price for equity of $445m in cash at closing for the acquisition of AET.
MISC
