The majority of the shares will be acquired through BTS, a collaboration between Blackstone-managed funds, Tufton Oceanic and Hartmann, and the balance purchased directly from Blackstone-managed funds.
Combined with recent purchases from other shareholders, BW Group will own 43.5% of Hafnia Tankers, once the latest deal is closed.
Carsten Mortensen, BW Group CEO, said, “BW Group is pleased to acquire this shareholding in Hafnia Tankers with its strong operational platform and quality fleet. We look forward to discussions with the other shareholders about the future strategy. We see a good cultural fit between the organisations, as well as the opportunity to further integrate the fleets and provide even better service to customers in the product tanker markets.”
BW Tankers currently owns and operates a fleet of 55 product tankers in the LR2, LR1 and MR segments, including newbuildings. Hafnia Tankers owns and operates a fleet of 47 product tankers in the LR1, MR and SR segments, including four newbuildings.
Hafnia’s common shares are traded on the Norwegian OTC market.