Hafnia Limited has signed a preliminary deal to purchase Oaktree Capital Management’s 14.45% shareholding in Danish tanker owner TORM, in a transaction valued at about $311 million.
The agreement covers around 14.1 million A shares at $22 per share, Hafnia said on Wednesday.
The deal remains conditional on a definitive agreement, regulatory clearances and the appointment of an independent chair to TORM’s board.
Hafnia described TORM as a “well-managed company with a high-quality fleet” and said it sees sector consolidation as broadly positive, while emphasising that no decision has been made on its longer-term intentions.
The company added that any potential future transaction involving TORM would not take the form of an offer under the UK Takeover Code, noting that it is therefore subject to restrictions under Rule 2.8 of the Code.
