AET completes $59.3m acquisition deal of Paramount Tankers

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.