Stolt-Nielsen cleared for deal worth hundreds of millions

Competition authorities have approved Stolt-Nielsen's acquisition of Jo Tankers' fleet of 13 chemical tankers and a newbuilding program of eight vessels. The deal amounts to almost half a billion dollars and is expected finalized in November.

Photo: Stolt-Nielsen

Norwegian carrier Stolt-Nielsen has received approval to buy Jo Tankers' fleet of chemical tankers.

The acquisition was announced in July, but the relevant competition authorities have now approved the deal, which is expected completed by the end of November.

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