DNB Markets is buying into John Fredriksen-controlled tanker company Frontline.
It is acquiring 8.1m shares - for nearly $88m - owned by Fredriksen's shipowning arm SFL Corporation, according to SFL CEO Ole B Hjertaker, who was cited by Norwegian daily Finansavisen.
SFL has concluded a forward contract, which means the stock will be delivered on 20 June next year.
Hjertaker says:“We have freed up the capital and have ensured we have full flexibility and are keeping the upside in the 8.1m
