International Seaways has agreed a takeover of Bruton at an equity valuation of approximately $370 million, according to Splash247.

The proposed transaction covers a portfolio of four very large crude carriers, including vessels still under construction. The reported valuation concerns Bruton’s equity, rather than the gross value of the ships.

Splash247 says completion is targeted for early November, subject to approvals. The report does not describe a completed takeover.

Details in the source report +
Reported details and their context.
DetailValueUnitContext
Reported Bruton equity valuation370 millionUSDApproximate equity valuation in the agreement; not gross vessel value
Vessels covered by the proposed transaction4VLCCsPortfolio includes newbuildings awaiting delivery; not four delivered ships
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Source: Splash247 · original report