Friday, June 26, 2015

Altor required billions for OW Bunker bankruptcy – Dagens Industri

Updated 2015-06-26 11:10. Published 2015-06-26 10:14

          Harald Mix , CEO of Altor.
            Photo: Joey Abrait / Di
         
       

 Large Danish investors now goes to attack on the private equity company Altor and require compensation for the wreckage of OW Bunker.
 

Private equity company Altor put Danish OW Bunker, who supplied fuel for ships, in Copenhagen last year, but only after half a year the company went bankrupt.

The investors who lost their money has been very critical and now requires 28 Danish departments damages of 800 DKK million , nearly 1 billion Swedish crowns. The atmosphere includes both prospectuses responsibility, some responsibility for the lack of market information.

The main owner Altor is , one of the parties sued, along with OW Bunker management.

“The entire process surrounding IPO of OW Bunker and the subsequent bankruptcy is unfortunate,” commented Anders Damgaard, CEO of PFA, Denmark’s largest pension continues:

“It should not be possible to the company as described in the prospectus, goes bankrupt just six months after the IPO. Therefore it is extremely important to identify what has gone wrong and accountability. Both the replacing our customers’ losses as far as possible, show the weaknesses in terms of IPOs and, not least, make sure that something similar does not happen again. “

The atmosphere comes after that investors ago in December examined the unexpected bankruptcy that shocked the stock market. Altor’s founder and CEO Harald Mix has previously said to the business world that it had cost 11 billion to save the company money as venture capital company had not.

Alongside institutions brings together the small shareholders in investing Association OW Bunker-Investor contract to a campaign to try to get compensation for lost money.

According to Danish newspaper Stock Exchange investment bank, Carnegie may still be out of favor with the Danish investors. It was Carnegie, which together with Nordea put OW Bunker on the Copenhagen Stock Exchange.

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