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Benor Buyout Balk

Maritime Activity Reports, Inc.

June 16, 1999

Benor Tankers Ltd. said that U.S. shipping company General Maritime Corporation will not proceed with its offer to buy all outstanding shares in the company. In late May, General Maritime said it would offer to buy all outstanding shares after acquiring Benor major shareholder TransPetrol Group’s 10.1 million shares at $4.80 share.
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