New York-listed Diamond S Shipping has agreed to pay shareholder Capital Maritime & Trading up to $34m amid its takeover by International Seaways.
The company is making the payment to prematurely terminate management agreements for up to 25 tankers going to International Seaways in the proposed all-stock acquisition.
Meanwhile, Evangelos Marinakis-controlled Capital and private equity firm WL Ross & Co are the latest major investors to commit to agreements to vote in favour of the deal.
