Frontline puts up money to buy Golden Ocean shipping group 5 Edition

Frontline AB, the Bermuda-registered tanker company run by Norwegian shipping magnate John Fredriksen, moved closer Friday to taking control of Golden Ocean Group. Frontline has committed to pay up to $33 million in cash, or to issue shares and warrants valued up to $48 million, to take over all uns...

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Bibliographic Details
Published inJournal of commerce (Newark, N.J.)
Main Author BRUCE BARNARD Bruce Barnard can be reached at 011-44-1223-840-461 or brucebarnard@compuserve.com
Format Newspaper Article
LanguageEnglish
Published New York IHS Maritime & Trade 30.05.2000
Subjects
LONDON
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Summary:Frontline AB, the Bermuda-registered tanker company run by Norwegian shipping magnate John Fredriksen, moved closer Friday to taking control of Golden Ocean Group. Frontline has committed to pay up to $33 million in cash, or to issue shares and warrants valued up to $48 million, to take over all unsecured debt of Golden Ocean, the New York bulk shipping group that filed for protection under Chapter 11 of the U.S. Bankruptcy Code in January.