Nordic American Tankers Limited (NYSE:NAT) agreed to acquire remaining 50% stake in Orion Tanker Pool Ltd. from Frontline Ltd. (NYSE:FRO) for $0.24 million on September 18, 2012. Post acquisition Orion will become a 100% owned subsidiary of Nordic American Tankers Limited. The deal is expected to be completed on January 1, 2013.

Nordic American Tankers Limited (NYSE:NAT) completed the acquisition of remaining 50% stake in Orion Tanker Pool Ltd. from Frontline Ltd. (NYSE:FRO) on January 1, 2013.