EMEA News
Major Shareholder Reduces Stake in OW Bunker
Tuesday October 28, 2014
OW Bunker has on Monday announced that major shareholder Cantillon Capital Management LLC (Cantillon) has reduced its holding in the company to below 5 percent.
The announcement was made pursuant to Danish securities legislation and follows news of downgraded profit forecasts for OW Bunker and a sliding share price.
OW Bunker did not disclose Cantillon's new holding or the reasons for the share sale, but previous announcements suggest the investment manager previously held 5.02 percent of OW Bunker’s shares on behalf of funds under its management.
OW Bunker has come in for criticism from another shareholder, major European institutional investor ATP, amid worse than expected results.
