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COPYRIGHT 2003 Financial Times Ltd.
(From Lloyds List)
Byline: Malaysian state carrier buys Neptune Orient Lines' tanker arm in $1.1bn deal, writes Sam Chambers in Hong Kong
MALAYSIA International Shipping Corp will buy Neptune Orient Lines' tanker arm, American Eagle Tankers, in a deal worth $1.1bn, it was revealed yesterday.
Containers are now the sole mode with which NOL intends to swing back into the black, following the proposed sale of American Eagle for $445m in cash plus a $75m cash dividend to Malaysia International Ship-ping Corp. The purchase price is also subject to adjustment for the profits earned from February...
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