Bruton to Merge with International Seaways Unit Bravo Ltd.

03:36 AM EDT, 10/16/2026 (MT Newswires) -- Bruton (BRUT.OL) agreed to merge with Bravo Ltd., an indirect subsidiary of New York-listed International Seaways, according to a Friday filing. The Oslo-listed very large crude carrier company's shareholders with more than 10,000 Norwegian depositary receipts will receive newly issued International Seaways common shares at an exchange ratio of 0.0519 shares per Bruton share. Holders of 10,000 receipts or fewer will receive the Norwegian-kronor equivalent of $6.3044 per receipt. Bruton directors unanimously approved the transaction and recommended that shareholders also accept the proposal at a special general meeting. Completion is expected in early November, subject to customary conditions, including shareholder approval. Upon completion of the transaction, Bruton will apply to be delisted from Euronext Growth Oslo.