Torm to buy back shares
Danish tanker shipping group Torm said today it will start its planned DKK2 million ($363.3 million) share-buyback program during the second quarter.
The company has just sold its stake in rival company Norden for about $713 million, sparking rumors that the company would use the cash to fund a takeover of other shipping groups, including Stamford, Conn.-based OMI Corp.
Torm to buy back shares
