seekingalpha.com Deals and strategy
Hafnia to buy 4.5M TORM shares, lifting stake above 18%
[Oil Tanker] HeliRy/E+ via Getty Images Oil product tanker TORM (TRMD [https://seekingalpha.com/symbol/TRMD]) jumped 6.5% to a more-than-two-year high in Wednesday's trading after tanker peer Hafnia (HAFN [https://seekingalpha.com/symbol/HAFN]) agreed to acquire [https://seekingalpha.com/pr/20652839-hafnia-limited-acquisition-of-an-additional-4_5-million-torm-shares] 4.5M shares for $145M from OaktreeCapital Management, making it TORM's largest shareholder with an 18.22% stake. The purchase renews speculation [https://www.tradewindsnews.com/tankers/hafnia-hoovers-up-145m-of-torm-shares-as-take