MOL Chemical Tankers to Buy Fairfield Chemical Carriers
Singapore-headquartered shipping company MOL Chemical Tankers has agreed to acquire the business of Fairfield Chemical Carriers, a subsidiary of Fairfield-Maxwell, in an all-cash transaction for about $400 million.
The transaction, which has been approved by both companies’ boards of directors, includes Fairfield Chemical Carriers’ subsidiaries: Fairfield Japan; Fairfield Chemical Carriers in the Netherlands; Fairfield Chemical Carriers South Africa; and Fairfield Chemical Carriers in Singapore. The transaction is expected to close in the fourth quarter, subject to customary regulatory approvals.
Fairfield Chemical Carriers' fleet consists of 36 chemical tankers and would complement MOL Chemical Tankers' existing fleet of 85 chemical tankers.
Source: MOL Chemical Tankers
