Another famous European shipping family loses control of company

Banks take control of family-owned Dutch carrier line Vroon in exchange for a "significant" reduction of the company's debt. Vroon has sold out of non-strategic actives, and, according to the management, the offshore business has been secured.

Photo: Vroon

Dutch shipping family Vroon stands to lose control of its crisis-hit carrier line of the same name, following a restructuring of the company debt.

In an announcement, Vroon writes that a deal was made with its creditors in November last year, entailing that creditors write off a "significant" part of their receivables in exchange for control of the firm.

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