Tanker firm International Seaways (INSW) has concluded the all-stock merger deal valued at around $416m with energy shipping company Diamond S Shipping (DSSI).
The company anticipates cost synergies of over $23m and revenue synergies of around $9m through the merger, which are expected to be achieved within the next year.
Former DSSI stockholders hold around 44.25% of the equity of the combined firm while pre-merger INSW shareholders own nearly 55.75%.
On 15 July, the pre-merger INSW shareholders...
https://www.ship-technology.com/news/tanker-firm-insw-closes-merger/