Media: Altor directs harsh criticism at OW executives

In a written statement, equity fund Altor rejects that a misleading IPO prospectus had anything to do with the collapse of OW Bunker, and in the same statement the fund voices a harsh criticism of executives from the bankrupt bunker company, reports Inside Business on Friday.

Photo: Kasper Palsnov/Jyllands-Posten

It has no relevance to the bankruptcy of OW Bunker whether or not OW's subsidiary Dynamic Oil Trading (DOT) was mentioned in the IPO prospectus.

This is the conclusion set out by equity fund Altor in a written statement, according to Danish media Inside Business, after Danish investors including pension funds PFA, ATP, and the Danish Shareholders' Association have subpoenaed Altor's executives, Søren Johansen from Denmark and Swedish Petter Samlin, under the accusation that severe omissions in OW Bunker's IPO prospectus contributed to the collapse of the company.

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