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Norden's two major shareholders sever ties

Norden two major shareholders, Norwegian Rasmussengruppen and Motortramp, have severed the mutual ties that have long bound the parties together through a shareholder agreement. The two investors are now free to sell their stakes as they like.

The two biggest shareholders in carrier Norden, Rasmussengruppen and Motortramp, on Tuesday finally terminated a mutual shareholder agreement.

The agreement stated that the shareholders must own at least 4,869,640 shares in Norden, corresponding to around 11.5 percent of the carrier. If one of the parties wanted to sell shares at a certain price, the company would first have to offer them to the other party at the same price. If the offer was declined, the shareholder would have to let the other party sell its own shares at the same or a higher price.

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