Stolt-Nielsen has rubber-stamped its purchase of a fleet of chemical tankers from Jo Tankers.
Oslo-listed Stolt-Nielsen secured competition approval for the transaction last week and today said the $575m deal was complete.
The transaction first emerged in July, with Stolt-Nielsen buying 13 trading chemical tankers and a 50% stake in a joint venture that controls eight newbuildings.
Niels Stolt-Nielsen, chief executive of Stolt-Nielsen, told TradeWinds at the time negotiations with Jo began around Easter this year after the Bergen-based company undertook a strategic review and decided to sell the fleet in an effort led by Danske Bank.
“It’s