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Euronav rebuffs Saverys call to abandon Frontline combination

Euronav management insists a combined Euronav-Frontline operation will be a ‘must-have’ in the crude tanker market, even if a full merger is now blocked by Euronav’s biggest shareholder

More than 24 hours after Alexander Saverys called on Euronav shareholders to abandon the ‘unworkable’, ‘value-destructive madness’ of a tie-up with Frontline, management have responded with a defiant reaffirmation of its goals. John Fredriksen, however, has remained silent

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