The International Collapse of OW Bunker
April 20, 2016
DRI's For The Defense
Types : Bylined Articles
Think Globally, For The Defense, April 2016
Christopher Scott D’Angelo:157006 Robert E. O’Connor:225791
In January 2014, Denmark’s OW Bunker secured a $700 million credit facility from an ING-led banking syndicate. Shortly after, Altor, a Norwegian private equity fund that owned OW Bunker, confirmed plans to float an IPO. OW Bunker, a marine fuel (“bunker”) supplier that operated in 29 countries and claimed to have a 7 percent share of the global bunker market, announced increasing volume, revenue-nearly $17 billion-and profit. When OW Bunker began trading on the NASDAQ OMX in March 2014, it was valued at $980 million.
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