EMEA News
O.W. Bunker Stock Listing Could Value Supplier at $895 Million
A plan to sell shares in Danish bunker supplier OW Bunker could value the supplier at up to $895 million, according to a report by business daily Borsen cited by Reuters.
OW Bunker is currently owned by Swedish private equity firm Altor Equity Partners (Altor), who acquired the bunker supplier in 2007 when its Altor Fund II investment vehicle bought the Wrist Group and its subsidiaries.
In July OW Bunker CEO Jim Pedersen confirmed earlier speculation that Altor was looking to sell off OW Bunker, but also said at that time a stock listing was one of possibilities.
A partner in Altor, Soren Johansen, told Borsen that no final decision has yet been made on whether the listing will go ahead.
"O.W. Bunker is a solid company that offers services to a global industry and which is a growing company, so in theory, a flotation would make sense," said Johansen.
Financial services firm Morgan Stanley [NYSE:MS] as well as Altor's Carnegie were said to have been hired to look into the flotation.
