Gener8 hires UBS for M&A advice as suitors line up

Tanker owner Gener8 Maritime has hired investment bank UBS as an advisor on issues including prospective merger-and-acquisition (M&A) activity, sources tell TradeWinds.

However, this does not reflect any pressure or impatience among key shareholders to see Gener8 sold, say sources close to the New York company.

Gener8 brought UBS aboard at the request of its independent directors after an approach by Idan Ofer’s Quantum Pacific Shipping in March.