SEB exits Altor-backed OW Bunker

The Swedish bank was reportedly one of the larger investors in the company, holding a few per cent.

The divestment follows a profit warning issued by OW Bunker on 7 October as a result of falling oil prices, which saw the company's stock price crash by 40% in two days.

Earlier this week it was revealed that another major shareholder, Cantillon Capital, had also sold a substantial part of its investment, bringing its stake below 5%.

Following the profit warning, SEB Wealth Management's Carsten Dehn told Danish media the reason for selling its holding was that the risk management OW Bunker was using was not the same as it had claimed when it was floated on the Copenhagen stock exchange.

The blow to Altor's portfolio company comes just days after it was strongly criticised by Danish pension fund ATP, which claimed the IPO prospectus for the company lacked proper volatility considerations.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Industrials
• Altor
• SEB