British-based supplier to the oil and gas industry Hunting confirmed that talks on the sale of its wholly-owned subsidiary, E. A. Gibson Shipbrokers, have been launched.
Hunting is in discussions with the management of Gibson concerning the potential sale of the business to an Employee Benefit Trust established on behalf of Gibson employees.
The transaction is expected to complete by the 31 March 2015 and is conditional on a number of matters including the management of Gibson finalising structure and funding.
Gibson operates one of the world’s largest tanker broking teams. The company’s market coverage includes gas (LPG and LNG), dry cargo, sale & purchase and offshore sectors.