WL Ross & Co has sold off more than 70% of its original holding in New York-listed International Seaways courtesy of that tanker owner’s acquisition of the former Diamond S Shipping.
New York-based financial firm is down to about 1.4m shares in Seaways, or a 2.72% stake, after holding about 4.9m units, or nearly 10%, at the closing of Seaways’ all-stock acquisition of Diamond S last July.
