Belgium’s Saverys family has called for an end to the plan to combine tanker giants Euronav and Frontline.
In a letter to the Euronav board, family-controlled shipowner CMB’s chief executive Alexander Saverys called the combination unworkable and value-destructive.
The clan has this week reached a 25% holding in Euronav, enough to block a full legal merger with John Fredriksen’s Frontline.
