Ina statement the company said the transaction was triggered by a provisionincluded in a restructuring agreement that gave three of its banks the power todemand the sale of up to 22 of its vessels prior to the one-year anniversary ofits overhaul in July 2013.
Tormindicated that proceeds from the transaction, which involves ten of itsmedium-range (MR) tankers and three long-range-twos (LR2s), will be used torepay debt linked to a loan facility backed by Danish Ship Finance (DSF).
Inthe
