Oaktree completes block sale of Hafnia shares

The shares were sold at Nkr50 (US$5) per share or about Nkr1.27Bn. Oaktree earlier held 50M shares or 9.98% of Hafnia. It was awarded a 20.40% slice when the BW Group-owned tanker company bought the 32-ship fleet of Oaktree’s Chemical Tankers Inc in November 2021.

The Fund divested 8.76% of those shares at Nkr42 per share last year and still still holds 25,038,624 shares (4.97%) of Hafnia’s shares. Oaktree has entered into a 90-day customary lock-up with the managers on the remaining shares in Hafnia.

Okatree executive Guillaume Bayol, who earlier represented the Fund on Hafnia’s board, will step down now as Okatree’s shareholding has slipped below 5%.

Investment banks Fearnley Securities, Jefferies and Pareto Securities were engaged to handle the share sale.