Bruton shareholders approve merger with International Seaways

Bruton Limited has secured shareholder approval for its proposed merger with International Seaways, bringing the tanker sector transaction closer to completion.

At a Special General Meeting held on 30 October 2026, shareholders approved all proposed resolutions, including the merger agreement under which a wholly owned subsidiary of International Seaways will merge into Bruton.

Following completion, Bruton will remain the surviving legal entity and become a wholly owned subsidiary of International Seaways.

The merger is expected to close after trading ends on Euronext Growth Oslo on 2 November 2026, subject to the continued satisfaction of customary closing conditions.

If the transaction proceeds as scheduled, 2 November will be the final trading day for Bruton securities on Euronext Growth Oslo, with trading suspended from 3 November.

Transactions executed on the final trading day are scheduled to settle on 4 November. Holders of Norwegian Depository Receipts (NDRs) registered with Euronext Securities Oslo at the close of business that day will be entitled to receive the merger consideration.

Under the previously announced transaction terms, International Seaways agreed to acquire Bruton through a combination of share exchanges and a subsequent cash-and-stock merger. The transaction values Bruton at approximately US$370 million.

Bruton currently has one VLCC in operation and three additional VLCCs under construction at New Times Shipyard, with deliveries scheduled between the fourth quarter of 2026 and the fourth quarter of 2027.

The acquisition will expand International Seaways’ crude oil tanker portfolio, adding Bruton’s existing vessel and newbuilding programme to its fleet.

Although shareholder approval has now been obtained, the companies have not yet confirmed completion of the merger.