Bermuda-based BW Group has entered into a definitive agreement to buy a 36.3% stake in Hafnia Tankers, a shipping company formed by the management team of former Tankers Inc.
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 certain Blackstone-managed funds.
Combined with recent purchases from other shareholders, BW Group will own 43.5% of Hafnia Tankers.
“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,” Carsten Mortensen , CEO of BW Group, said.
BW Tankers currently owns and operates a fleet of 55 product tankers in the LR2, LR1 and MR segments including newbuildings.
Hafnia Tankers has a fleet of 47 product tankers in the LR1, MR and SR segments including 4 newbuildings and the company’s common shares are traded on the Norwegian OTC market.