Nordic American Tanker (NAT -1.4%) acquires the remaining 50% shareholding interest in Orion Tanker Pool from Frontline (FRO -9.1%), effective January, 2013. Once the transaction closes, Orion will become a 100% subsidiary of NAT. FRO's nine suezmax vessels will leave Orion later this year after the shipper advised NAT that it wishes to be more flexible in the operation of its vessels.
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