Paulson & Co Inc., the hedge fund run by John Paulson (Trades, Portfolio), acquired 61,384,234 sharesor 19.35% of Overseas Shipholding Group Inc. (OGSRB, Financial),(OGSBW, Financial) Paulson hedge fund disclosed the 19.35% stake in a 13G Filing with the SEC.
Stake in Overseas Shipholding Group
Paulson & Co's filing indicates that the firm bought 56,425,082 shares of class A shares and 4,959,152 of common stock, issuable upon the exercise of certain Class A Warrants.The fund also disclosed that it can only exercise the warrant with the consent of Overseas Shipholding and is subjected to certain restriction.
Overseas Shipholding Group business overview
Is a tanker company focused on transporting crude oil and other petroleum products. The company's vessels operates in three business segments and market segments. As of 2011 the company owned or operated a modern fleet of 111 vessels. 88 vessels operates in international markets, 23 operates in the U.S. market. Overseas Shipholding's international crude oil fleet is mainly made up of (Very Large Crude Carriers) VLCC. The company also has a fleet of four Q-Flex LNG carriers. Each of Overseas Shipholding's LNG carriers can transport 216,000 cubic meters of LNG.
SEC 13G Filing:
http://www.sec.gov/Archives/edgar/data/75208/000119312514338164/d786905dsc13g.htm
