Belships chairman Sverre Tidemand has rejected a takeover offer from two of his nieces in favour of a rival proposition from Frode Teigen.
Sverre Tidemand hired financial advisors to explore options for his 67.05% stake in Oslo-listed Belships earlier this year.
This prompted a bid from investment vehicles backed by Caroline Tidemand and Kristin Tidemand Eckhoff, the daughters of his brother Otto.
