O.W. Bunker planning Copenhagen share sale- paper
COPENHAGEN Nov 11 (Reuters) - Danish shipping fuel company, O.W. Bunker, is planning to sell shares in Copenhagen in a flotation that could value the company at up to $895 million, business daily Borsen wrote on Monday.
The company, one of the world's largest shipping fuel suppliers with a global market share of around 6 percent and 60 tanker vessels, posted turnover of more than 80 billion Danish crowns ($14.32 billion) last year.
Private equity company Altor has owned the company since 2007. The market value of O.W. Bunker is estimated at between 4 billion Danish crowns ($715.92 million) and 5 billion ($715.9-894.9 million), Borsen said.
A partner in Altor, Soren Johansen, told Borsen that no final decision has yet been made regarding a listing.
"O.W. Bunker is a solid company that offers services to a global industry and which is a growing company, so in theory, a flotation would make sense," Johansen said.
Altor has engaged investment bank Morgan Stanley and Altor-owned Carnegie to look into the flotation, Borsen said.