Saverys reaches merger-blocking 25% stake in Euronav
Plans to combine Euronav and Frontline remain on track according to executives from both companies, but a potentially expensive deal to resolve the Saverys’ opposition remains out of sight for now
The Saverys family now have sufficient shareholder control to block a full merger between Euronav and Frontline, and while both companies insist a ‘combination’ tie-up will achieve the same goals, a long-term solution will now need to be negotiated