John Fredriksen’s Frontline has clinched its deal to buy 24 modern VLCCs from Euronav as part of a transaction to sell its major holding in the Belgian company.
The Oslo-listed owner said on Monday the “integrated solution” is a way to end the “strategic and structural deadlock” in Euronav.
Euronav had said on Thursday it was in talks over a deal that also involved the other big shareholder, the Saverys family and its CMB shipping company.
