A Belgian court has ruled that a mandatory bid for Euronav shares launched by the Saverys family’s Compagnie Maritime Belge undervalued the tanker company.
In identical statements released on Sunday night, however, Euronav and CMB said the judgment in the Brussels Market Court “largely rejected” claims brought forward by US investment fund and rebel Euronav shareholder FourWorld Capital Management.
The New York fund has been battling to gain hundreds of millions of dollars in compensation for minority shareholders from the deals that resolved the impasse between Euronav investors John Fredriksen and the Saverys family.
