Trafigura takes stake in Frontline in $675 million tanker deal

OSLO (Reuters) - Frontline has agreed to buy 10 Suezmax oil tankers from Trafigura [TRAFGF.UL] in a cash and share deal worth up to $675 million (553.01 million pounds) which will make the Geneva-based trading firm a large shareholder in the shipping group.Under the terms of the deal Trafigura will take an 8.5% stake in Frontline, valued at $128 million, and will receive a cash payment of between $538 million and $547 million, the companies said on Friday.Frontline and Trafigura, together with..