US investment bank Cowen believes there is little chance that John Fredriksen’s sale of Euronav shares signals cold feet on the merger with Frontline.
The tycoon sold 2m shares in the Belgian tanker company last week, cutting his stake by 1% to 17.78%.
This came at the same time as a vocal combination opponent, the Saverys family, which owns shipowner CMB, built its holding to 24%, 1% short of the level needed to block a full legal merger with Fredriksen’s Frontline.
