Cerberus Capital Management has increased its stake in Oslo-listed Team Tankers by a further 1.411% to just over 10% in total.
On November 20, the private equity firm’s subsidiary Promontoria Holding VI bought 2,659,497 shares at NOK 14.25 ($1.65) each or NOK 37.79m ($4.38m) in total, a filing said today. The stock closed that day at NOK 14.15 per share.
New York-based Cerberus and its affiliate companies now hold a total of 19,274,238 shares in Team Tankers, equal to a 10.226% stake. This includes an 8.815% stake (16,614,741 shares) held by Promontoria Holding CIP5 BV, another Cerberus company.
Jesper Bo Hansen is vice-chairman, maritime of Cerberus’ proprietary operations affiliate Cerberus Operations and Advisory Company, and serves as a member of Team Tankers’ board of directors.