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AET completes $59.3m acquisition deal of Paramount Tankers

AET completes $59.3m acquisition deal of Paramount Tankers
AET Inc., subsidiary of MISC Berhad, has paid $59.29m to acquire a remaining 50% stake in Paramount Tankers Corp from Golden Energy Tankers Holdings Corp.

The acquisition agreement was signed back in April this year for AET to buyout the remaining stake in Paramount Tankers that it had jointly owned with Golden Energy Tanker, the tanker arm of Greece’s Restis Group.

AET completed the acquisition on 29 August, with MISC confirming the final purchase price at $59.29m, factoring in the value of the vessels in Paramount Tankers, assignment of debt from Golden Energy Tankers to AET, and net liabilities.

Paramount Tankers owns a fleet of six aframax tankers.