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Torm in negotiations with two separate investor groups

Shipping company Torm is negotiating with two separate investor groups. “The cooperation with the banks has paid off,” says Torm Chairman, N.E. Nielsen.

“TORM is pleased that the close cooperation with the banks and other stakeholders has generated results and that two international, recognized groups of investors have as part of the capital raising process submitted specific, conditional proposals to TORM to inject USD 100-200 million in equity and cash initiatives. A very important step has been taken, and the risk of an in-court solution in Denmark or anywhere else will be eliminated if and when the conditions in these proposals have been fulfilled,” says Chairman N.E. Nielsen in a press release from Torm.

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