Saverys close to preventing full merger after increase of Euronav stake
Belgian shipping family Saverys acquires additional shares in Euronav and now only needs a small increase of its equity position to block a full merger between the tanker operator and rivaling company Frontline.
by DAG HOLMSTAD
The Saverys family has bought additional shares in crude oil tanker operator Euronav, which is attempting to push through a merger with Norwegian competitor Frontline, according to a notice to the US Securities and Exchange Commission.
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