Gener8 Maritime could be on the radar of Norwegian billionaire John Fredriksen's tanker giant Frontline
US group Gener8 Maritime Inc (NYSE:GNRT) could be on the radar of Frontline Ltd, the tanker giant owned by Norwegian billionaire John Fredriksen, according to media reports.,
The deal would create the world’s biggest tanker fleet, with 43 very large crude carriers (VLLC) in operation.
Fredriksen told The Wall Street Journal in an interview on Tuesday that Frontline is likely to drop its attempts to buy Oslo-based rival DHT Holdings after an improved offer of US$765 million was rejected by the fellow Norwegian group.
The billionaire said that he was instead looking at buying another operator that ran at least 20 VLCCs. Gener8 operates 23 such vessels.
According to Marketwatch, one person familiar with the matter said the talks with Gener8 were progressing, but there was no guarantee a deal would be reached.
In pre-market trading in New York, Gener8 shares were holding steady at US$4.91.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/178569/gener8-maritime-could-be-on-the-radar-of-norwegian-billionaire-john-fredriksen-s-tanker-giant-frontline-178569.html
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