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John Fredriksen’s Frontline has been tipped to hit a market capitalisation of $6bn after pulling off the largest tanker sale-and-purchase transaction ever. The Oslo-listed group struck a deal to acquire 24 modern VLCCs from Belgium’s Euronav for $2.35bn on Monday. The agreement dwarfed previous tanker transactions. French shipbroker BRS told TradeWinds: “When excluding mergers, we believe that this is the most expensive tanker S&P deal ever done.
