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Eitzen to acquire leading chemical tanker firm for $1.28 billion.(Eitzen Chemical to acquire Songa Shipholding)(Brief article)

Chemical Week

| August 30, 2006 | COPYRIGHT 2003 Chemical Week Associates. (Hide copyright information)Copyright

Eitzen Chemical, a wholly owned subsidiary of Camillo Eitzen & Co. (CECO; Lysaker, Norway) says it has reached an agreement to acquire Songa Shipholding, which is currently controlled by Arne Blystad (Oslo), for $1.28 billion. Songa owns 49 chemical tanker vessels and newbuilding contracts, ranging from 8,750 dwt to 40,000 dwt. Some 25 of the vessels are in operation today. The deal …

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