US fund FourWorld Capital Management has explained its ultimate aims in launching legal action against tanker owners Euronav and Frontline.
The New York investor believes an unwinding of various mergers and acquisitions is still possible, in an attempt to extract maximum value for other shareholders.
A deadlock over the future of Euronav was broken last year when Fredriksen’s Frontline sold its holding in Euronav and bought 24 modern VLCCs from the company for $2.35bn.
