Malaysia International Shipping Corp Bhd shareholders have approved the company's acquisition of American Eagle Tankers (AET) from Neptune Orient Lines Ltd. (NOL), MISC chairman Hassan Marican said today.

"In general, it (shareholders meeting) went very well. At the end of the meeting, the acquisition of AET was approved by the shareholders," Hassan told reporters.

MISC will pay US$445 million in cash for AET and it will also fund a US$75 million dividend from AET to NOL.