Fredriksen’s investment vehicle, Famatown Finance, obtained an additional 5.12 million shares in Euronav for almost $70m, taking the billionaire’s stake in the Belgian firm to 20.31%.
Famatown Finance is indirectly controlled by trusts managed by Fredriksen.
The merger was first announced last July, and the two companies had reached a definitive merger agreement.
It was planned to be a stock-for-stock transaction with an exchange ratio of 1.45 Frontline shares for each Euronav share.
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Had the deal been completed, it would have resulted in Frontline becoming the parent entity while Euronav would have become a majority-controlled subsidiary.
The merger would have created the largest publicly-listed oil tanker owner and operator across the globe, with a market capitalisation of more than $6bn and 146 vessels.
At that time, Euronav CEO Hugo de Stoop said: “The proposed combination is a huge opportunity to take a leading position in the tanker industry as we seek to master the transition to a world of clean, safe and sustainable shipping.
“This transaction represents a unique opportunity to deliver substantially better service to our customers, enhanced returns to our shareholders, and to provide a unique platform where people can fully express their talents while advancing our ambitious sustainability strategy towards decarbonisation of the shipping industry.”