Call it a little something for everyone in the Scorpio Group’s pair of public companies.
For wind-power specialist Eneti, it has $83.3m more in cash on its balance sheet after selling its entire holding of 2.16m shares in sister company Scorpio Tankers, which is one of the world’s largest product carrier owners.
A standard discount
Meanwhile, Scorpio has news for all the equity analysts and shareholders who have been looking for stock buybacks. It is the buyer of 1.3m of those shares, and it is quickly retiring them.
