Arlington Tankers Explores Strategic Alternatives

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Sale, merger or a new acquisition are some of the options being explored by Bermuda-based Arlington Tankers.

Arlington, which has one of the youngest tanker fleets in the world, said it was engaged in a process to review and evaluate strategic alternatives to enhance shareholder value.

These alternatives may include the purchase of another company; the sale of the Company; a merger of the Company; other strategic transactions; or the continued execution of the Company’s current operating plan. Arlington has retained Jefferies & Company, Inc. as its financial advisor in connection with this process.

The Company said it currently had no commitments or agreements with respect to any particular transaction and noted that there can be no assurance that its review of strategic alternatives will result in any.

Arlington operates a fleet of eight modern double hulled vessels with an average vessel age of approximately 4.5 years. The fleet (two V-MAX VLCC tankers, two Panamax tankers and four Product tankers) are employed on long-term time charters.