Hafnia to acquire 14.45% of TORM from Oaktree for $311m

Hafnia Limited announced a preliminary agreement to acquire about 14.1 million A shares in TORM plc from Oaktree Capital Management, L.P. for a total of $311,433,342, or $22 per share. This represents approximately 14.45% of TORM's issued share capital. Completion is pending a definitive agreement, regulatory clearances, and the appointment of a new independent board chair for TORM.

Hafnia views this investment in TORM, a well-managed company, as a positive step for the tanker industry, potentially supporting consolidation. However, Hafnia has not made firm decisions regarding further transactions.

Hafnia, a leading tanker owner and part of the BW Group, operates around 200 vessels globally.