Eneti Sells Its Stake in Scorpio Tankers

Offshore wind farm construction and services company Eneti Inc. announced it has sold its entire holding in Scorpio Tankers Inc.

Eneti said it sold its 2,155,140 common shares in Scorpio Tankers for $38.65 per share, for gross proceeds of approximately $83.3 million.

As part of the transaction, Scorpio Tankers purchased approximately 1.3 million shares for approximately $50 million.

Eneti, formerly Scorpio Bulkers, in 2021 changed its name and began selling off its bulk carrier fleet in a pivot to offshore wind farm construction and services. The company is currently building a fleet of wind turbine installation vessels (WTIV).

Scorpio Tankers, which like Eneti is led by Emanuele Lauro, currently owns, finance leases or bareboat charters-in 113 product tankers for marine transportation of petroleum products.