Oslo and New York-listed Frontline vowed to pay out all of its adjusted net profit to shareholders following the deal that will create a $2.2bn company with around 90 tankers.
The details emerged as Frontline posted its best third-quarter profit since 2008 at $17.4m and Frontline 2012 the highest in its short history with a gain of $61.9m.
Analysts at DNB Markets said the combined company would have recorded an adjusted profit of $47.9m
