Monaco-based owner and operator of offshore wind vessels Eneti has sold its entire holding of around 2.16m common shares in related product tanker giant Scorpio Tankers, maritime news website Splash247.com reports.
As part of the transaction, Scorpio Tankers repurchased about 1.3m of those shares for approximately $50m.
The New York-listed firm, previously Scorpio Bulkers, will earn gross proceeds of approximately $83.3m, adding to about $45.3m of unrestricted and $14.5m of restricted cash as of end-July.
For the second quarter of 2022, Eneti reported net income of $52.7m including a gain of just over $28m from its equity investment in Scorpio Tankers that earned $191m in the same period.
Eneti currently has a fleet of five wind turbine installation vessels and two under construction in South Korea, while its sister company Scorpio Tankers currently owns, finance leases or bareboat charters in 113 product tankers. Both companies are led by Emanuele Lauro.
ORIGINAL ARTICLE: https://splash247.com/eneti-banks-83m-from-sale-of-entire-stake-in-scorpio-tankers/
PHOTO: Emanuele Lauro Facebook
