Shares of Bunker Holding Parent Group Distributed Among Owner's Family

by Ship & Bunker News Team
Wednesday June 10, 2020

The shares of the parent company of Bunker Holding, United Shipping & Trading Company (USTC), are to be split among the family of its current owner, the company said Wednesday.

Torben Østergaard-Nielsen will from now on hold just a third of USTC's shares, with his daughters Nina Østergaard Borris and Mia Østergaard Nielsen each holding another third via the holding company Selfinvest, USTC said in an emailed statement.

Østergaard-Nielsen's daughters will take an 'even greater part' in running the company, according to the statement, but he will still control the group.

"I still have no plans either to reduce my workload or retire," he said in the statement.

"But it gives us peace of mind to get this important step in place, not just for us as an owner family, but also for our employees and other stakeholders worldwide.

"I'm first and foremost pleased that the group has the financial strength to implement a costly succession process.

"And now that this step is in place, we can again focus fully on the group's general growth and development plans."

Nina Østergaard Borris joined USTC as COO on 1 January, having previously served as executive assistant and head of mergers and acquisitions at Bunker Holding since May 2014.

Ship & Bunker News Team
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