Norwegian shipping and investment group Wilh Wilhelmsen Holding’s bid to buy out other shareholders in listed subsidiary Treasure is “not fair” financially, independent directors say.
The group launched the takeover bid on 7 June to provide a “liquidity event” for investors.
Investment vehicle Treasure holds 11% of South Korean car carrier, tanker and gas ship specialist Hyundai Glovis, a stake worth $528m.
