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Saverys has spent USD 620m fighting Frontline-Euronav merger

Shipping family Saverys has bought Euronav shares for approx. USD 620m to prevent a full merger with Frontline. However, Saverys risks being left behind with ”illiquid” shares, says investment bank.
Photo: Frontline
Photo: Frontline
by Dag Holmstad, Idha Toft Valeur and Kim Wiesener

Belgian shipping family Saverys, a highly critical opponent of a merger between Euronav and Norwegian rival Frontline, has for more than a year been acquiring shares in Euronav for a total of USD 620m, according to an overview provided by DNB Markets to ShippingWatch.

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