London-listed Clarksons told the City this morning that Horn was facing accusations of breaching Norwegian employment law regarding his personal arrangements for the employment of domestic personnel.

Horn was the largest shareholder in Platou and is set to assume a 7.14% stake in Clarksons once the deal is rubber stamped.

“Whilst these alleged offences have no connection with his business affairs, Mr Horn has decided not to stand as a proposed director of Clarkson,” this morning’s statement said.

Dn.no