Overseas Shipholding Group Inc. (OSG) announced that as on December 16, approximately 267,419 common units of OSG America L.P. (OSP), were validly tendered and accepted for purchase in the subsequent offering period by its wholly owned subsidiary, OSG Bulk Ships Inc.
On December 17, OSG Bulk will purchase the remaining 1,077,639 units outstanding and not owned already owned by OSG's subsidiaries through exercise of its repurchase right. OSG's subsidiaries will then own all of the economic interests of OSG America L.P. and will be entitled to all of the benefits resulting from those interests. The units will be delisted from the New York Stock Exchange and will no longer be publicly traded.
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