Teekay Tankers completes acquisition of Tanker Investments

Teekay Tankers completes acquisition of Tanker Investments

Teekay Tankers has completed the acquisition of Oslo-listed Tanker Investments (TIL) in a share-for-share merger, a deal it announced in June.

Outstanding shares of TIL common stock have been exchanged for 3.30 shares of Teekay Tankers Class A Common Stock, and TIL has now become a wholly owned subsidiary of Teekay Tankers.

Teekay Tankers brings in 18 vessels with the deal, growing its fleet to 60 tankers most of which are owned.

Teekay Corporation and Teekay Tankers set up Tanker Investments in 2014 to benefit from cyclical fluctuations in the tanker market.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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