Seems like the Frontline (FRO)-Euronav (EURN) is moving ahead.
Lots of details in the Press release, including
- Share exchange rate
- CEO change
- Board composition
- Payment of dividend
- Change of HQ (FRO moving to Cyprus)
International Seaways (INSW) sold its share of the offshore ULCC vessels to EURN for around $140M.
I wonder if FRO keeps those assets, or opts to sell/spin-off those assets?
I wonder if the HQ move is due to tax concerns?