Hafnia Shareholders Approve Merger with BW

BW GroupImage Courtesy: BW Group

The shareholders of Hafnia Tankers have given the green light to the company’s proposed merger with BW Tankers, part of BW Group.

The voting was held at last week’s extraordinary general meeting of the Denmark-based shipping company, held on Thursday, January 10.

Under the merger agreement, signed in December 2018, BW Tankers intends to acquire Hafnia’s assets and liabilities, contracts, rights and obligations.

It is proposed that Hafnia and BW Tankers Corp., a Marshall Island subsidiary of BW Tankers, shall merge under the laws of the Marshall Islands, with BW Tankers being the surviving entity.

The shareholders of Hafnia will receive consideration for their Hafnia shares in the form of common shares of BW Tankers Limited.

The merger agreement follows BW Group’s acquisition of an additional 36.3 pct stake in Hafnia Tankers back in July 2018, bringing the company’s total ownership stake in Hafnia to 43.5 pct.

Hafnia said that the completion of the merger is expected to take place in January 2019, subject to certain conditions being fulfilled.

The combined company will be one of the largest pure-play product tanker businesses in the world with a fleet of 86 vessels, including newbuilds and excluding sale and leaseback vessels.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >