Frontline merger complete

Frontline merger complete

Frontline and Frontline 2012 completed their merger on Monday. Frontline is now the surviving legal entity and Frontline 2012 becomes a wholly-owned subsidiary of Frontline.
Trading in the new shares of Frontline issued as merger consideration to former Frontline 2012 shareholders will commence on the Oslo Stock Exchange on Tuesday. Monday was the last day of listing of Frontline 2012 on the NOTC.

“By merging Frontline and Frontline 2012 we will regain Frontline’s position as a leading tanker company.  The combined company will have a large fleet and a strong balance sheet which puts us in a position to gain further market share through acquisitions and consolidation opportunities,” said John Fredriksen, chairman of Frontline Ltd and of Frontline 2012, when announcing merger plans in July this year.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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