Christen Sveaas is set to buy Western Bulk Chartering less than three years after taking its parent company back to the Oslo Stock Exchange.
Sveaas, via investment vehicle Kistefos, this morning revealed plans for the deal which values one of Western Bulk's two core business areas at $47m.
The transaction, which is subject to bondholder approval, has been struck to ensure the future viability of the company, a statement said.
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