International Seaways, one of the largest tanker companies in the world providing energy transportation services for crude oil and petrochemical products, announced today the execution of agreements to acquire Bruton Limited. This set of transactions, valued at approximately $370 million, includes the merger of four Bruton VLCC tankers with a diverse fleet of about 70 tankers from International Seaways.
Details of the Deal and Execution Steps
International Seaways has entered into agreements with Bruton shareholders who hold approximately 50.5 percent of the public shares of the company to purchase those shares. At this stage, each Bruton shareholder can receive 0.0519 shares of International Seaways for each of their shares. These transactions are set to be settled on October 20, 2026.
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Additionally, International Seaways has signed a final agreement with Bruton to purchase all remaining shares of the company after completing the first phase of the agreement through a cash and stock merger. This merger, known as a “Merger,” is expected to take place shortly after a special meeting of Bruton shareholders on October 30, 2026.
Financial Impacts and Future Outlook
Lois K. Zabrocky, President and CEO of International Seaways, stated regarding this deal that this opportunity will help them expand and modernize their fleet. Zabrocky emphasized that this deal represents their committed approach to growth and that after the completion of this transaction, International Seaways will be well-positioned to continue executing its growth strategy.
The company also announced today its preliminary financial results for the third quarter of 2026. Based on current information, transportation revenues and other operating revenues are expected to be around $480 to $490 million, with net profit estimated between $340 to $350 million. These results are influenced by strong market conditions, resulting in daily earnings of approximately $68,000.
These final results are expected to be released on November 5, 2026, which will include more details of the company's financial operations.
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