TORM Arranges Capital Structure Overhaul
Copenhagen-based tanker and bulk carrier operator TORM (TORM.CO) said it is carrying out a structured process involving a number of external stakeholders in an effort to address its long-term capital structure.
As the company announced in August 2013, TORM has engaged a financial advisor as part of the initiated process to address the company’s financial structure. TORM reported that this work is now continuing to a stage, where TORM is carrying out a structured process involving a number of external stakeholders to further explore the possibilities for a strategic transaction during 2014.
According to TORM, additional information will be provide if and when there is material progress in this process.