Euronav shareholders John Fredriksen and the Saverys family “sidelined” the Belgian tanker company’s directors during talks to carve up the fleet, a court has found.
Brussels Market Court ruled both parties also placed “tremendous pressure” on Euronav’s supervisory board to get the $2.35bn sale of 24 modern VLCCs to Fredriksen’s Frontline done last year.
Rebel shareholder FourWorld Capital Management had taken the Saverys’ private Compagnie Maritime Belge to court in an attempt to raise the mandatory bid price CMB paid for Euronav shares in March following the exit of Fredriksen.
