Aegean's deal to buy founder's company collapses after shareholder resistance

Bunker company Aegean's much-discussed purchase of shares in HEC Europe for a total USD 367 million has been called off. Shareholders in the company protested the transaction and the deadline has now expired.

Greek bunker company Aegean has, due to severe pressure from shareholders, missed the deadline for a deal to acquire shares in company HEC Europe for a total USD 367 million, says Aegean in a notice to the New York Stock Exchange.

In relation to the bunker company's annual report, management announced the deal to acquire the remaining shares in HEC Europe, which offers various services to ports, including receiving oil remains from ships.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Eurotunnel accuses DFDS of unfair competition on English Channel

Getlink, which owns the railroad service Eurotunnel under the English Channel, accuses ferry operators DFDS and P&O ferries of having struck an unfair deal on the Dover-Calais route in terms of competition. DFDS CEO Torben Carlsen rejects the accusation to ShippingWatch.

Further reading

Related articles

Latest news

See all jobs