The exit strategy appears to be underway for legendary investor Wilbur Ross.
Ross and the management of Connecticut based Diamond S Shipping are laying the groundwork for an initial public offering (IPO) of the 30 products tankers bought from Cido Shipping in a $1.2bn deal in 2011, financial sources said this week.
While the sources caution that the IPO may not happen quickly and other products tanker flotations could emerge earlier, the Diamond S team has been talking with underwriters and informally gauging interest from shipping investors, including some in Europe, TradeWinds is told.
“This
