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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.

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