Saltchuk Resources agrees to acquire Overseas Shipholding Group for $950M, with OSG operating as a standalone unit post-acquisition.

Saltchuk Resources, a privately-owned, diversified transportation company, has agreed to acquire Overseas Shipholding Group (OSG) for $950M. OSG, a liquid bulk transportation services provider in the energy industry, will operate as a standalone unit within Saltchuk post-acquisition. Saltchuk will fund the deal through a combination of debt and cash on hand, and plans to complete the transaction by Q3 2024, pending regulatory approvals and closing conditions.