DHT Holdings’ $538m acquisition of 11 VLCCs from the BW Group while it was still under a takeover pursuit by shipowner John Fredriksen was “not a defensive measure,” a US court was told this week.
A memorandum filed by DHT lawyers asserts that the 23 March agreement was not a maneuver to shake the Norwegian billionaire off the company’s back, but rather fulfillment of an established business plan.
