10:36 AM EDT, 09/03/2025 (MT Newswires) -- Hafnia ( HAFN ) said Wednesday that the controlling shareholder of TORM ( TRMD ) has accepted its offer to acquire about 14.1 million class A shares in TORM ( TRMD ) at $22 per share for a total of around $311 million.

The shares represent about 14.45% of TORM's ( TRMD ) issued share capital, according to the statement.

Hafnia ( HAFN ) said the transaction is subject to the execution of a definitive agreement with Oaktree Capital Management and its affiliates, the controlling shareholder of TORM ( TRMD ), among other customary conditions.

Hafnia ( HAFN ) said TORM ( TRMD ) is a well-managed company with a high-quality fleet.

"Hafnia ( HAFN ) believes generally that consolidation is positive for the tanker industry but has made no decisions in this regard," Hafnia ( HAFN ) said over its long-term position as a TORM ( TRMD ) shareholder.

Shares of Hafnia ( HAFN ) were up about 2%, and TORM ( TRMD ) was up more than 1% in recent trading.

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