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Oaktree has upped its stakes in both Torm and Ardmore Shipping

Torm majority owner Oaktree Capital has bought up shares in competitor Ardmore Shipping, which Hafnia previously attempted to take over. The equity fund is now the tenth-largest shareholder in the Irish tanker operator.

Anthony Gurnee is CEO of Ardmore, which earlier this year rejected a merger offer from Hafnia. | Photo: Marine Money

Torm's main owner, US-based equity fund Oaktree Capital, has bought up shares significantly in one of the Danish shipping company's biggest competitors.

During 2020, Oaktree has thus bought shares in Irish rival Ardmore Shipping, and the equity fund is now the tenth-largest shareholder. The acquisitions come at a time when Oaktree has also increased its stake in product tanker operator Torm.

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