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Saverys family ups stake in Euronav again – wants three board members

Shipping family Saverys, which opposes the proposed merger between Frontline and Euronav, has increased its ownership stake in Euronav and will propose electing three candidates for the company’s board at the AGM.

Photo: PR / CMB

The drama surrounding the future of Belgian crude oil tanker carrier Euronav, proposed as merger partner of Norwegian rival Frontline, is intensifying.

Belgian shipping family Saverys has just informed the US Securities and Exchange Commission (SEC) that the family has increased its ownership share of Euronav to 16.47 percent through shipping company CMB, among other measures.

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