John Fredriksen has spent the week amassing more Euronav shares via various investment vehicles to the point where he now owns just 0.01% less of the tanker giant than his rivals, the Saverys family.
In total, Fredriksen has amassed another 4.785m shares this week taking his total holding to 24.99%, suggesting there are plenty more twists and turns in the protracted battle for control of the Antwerp-based shipping company.
Fredriksen pulled the plug on his tanker merger plans with Frontline earlier this month.
A report from Brussels-based KBC Securities from earlier this week described the “clash of egos” in the battle between Fredriksen and the Saverys family for Euronav.
“As Fredriksen is also approaching 25% ownership, it looks like he’s not just going to walk away. We believe there is currently more at stake than just a rational investment strategy,” the report argued.
Euronav will announce its fourth quarter results on February 2, an event where top management is expected to face tough questions from analysts and reporters over the company’s future.
