In Dec 2025, Hafnia Tankers (HAFN) announced that they had acquired a 14+% stake in Torm Plc (TRMD) via Oaktree Capital. That Oaktree sale triggered another event that became official yesterday (01/06) - as Oaktree Capital now owns less than 1/3 of TRMD’s shares, the special C -share is gone.
The C-share gave Oaktree special voting rights. I think this opens the door for another party (infer Hafnia Tankers/BW Group) to make a bid. Will Hafnia be the only party interested in a merger? Or, will there be a bidding war?
Own shares in both TRMD and HAFN. TRMD stake >> HAFN stake