Akin Advises Oaktree in $250 Million Selldown of TORM Shares
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(London and New York) – Akin has advised OCM Njord Holdings S.à.r.l. (Oaktree), a company indirectly owned by funds managed by Oaktree Capital Management, L.P. and its affiliates, in the $250 million partial selldown of its stake in TORM plc, a shipping company and one of the world’s largest owners and operators of product tankers. Torm is listed on the Nasdaq in New York and Copenhagen. Oaktree sold 6,896,552 Class A common shares by way of an SEC-registered secondary public offering and remains TORM’s controlling shareholder with c. 47% of the total share capital and 88.67% of the total voting rights.
Oaktree has further granted the underwriter a 30-day option to purchase up to an additional 1,034,482 Class A common shares pursuant to the offering.
The Akin team was led by London corporate partner Harry Keegan and New York capital markets partner Rosa Testani. They were joined by capital markets senior counsel Alexandra Reuss, corporate counsel Dougall Meston and George O’Malley as well as capital markets associate Karen Liu.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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