Italian Family Operates Airline Stock Market – High Level Investors Sell – E24

Italian Family Operates Airline Stock Market – High Level Investors Sell – E24

The shipping family has increased its ownership stake to 14 per cent after making further purchases in Norse Atlantic. Director Marius Borthen believes that “dealing with airline stocks was too risky.”

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Cargo boss Magnus Halvorsen and director Marius Borthen have dumped the Scandinavian shares, at the same time as Italy’s Lauro family took another bite out of the airline.

E24’s investor listings show that.

The Blueberry Capital fund, managed by Marius Borthen, has been subject to a sharp sell-off. The listings show that as of mid-July, the number of fund shares had fallen from 800,000 shares to 25,000 shares.

– High risk in airline stocks

Borthen confirms the sale.

-We have to be careful View the macro from top to bottomView the macro from top to bottomAn investment analysis that takes factors such as economic growth, unemployment, and interest rates as a starting point before looking at specific companies or sectors. With very few shares, hence we think it was too risky to stay with airline stocks until 2024, he writes to E24.

– but Bjorn TorreBjorn TorreCEO and Founder Bjørn Tore Larsen at Norse Atlantic. The company has made a very strong impression and is doing all the right things in expanding its reach. “So we will definitely buy shares again,” he continues.

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Halvorsen MH Capital, which First bought in January, has disposed of 700,000 shares worth approximately NOK 16 million. It is now listed with about 970,000 shares.

Halvorsen did not respond to E24’s inquiry about this matter.

The Lauro family, a large shipping company, bought an additional 1.33 million shares and now owns 9.46 million shares worth about 220 million.

The family, which on the eve of August announced a 10% stake in Nourse, has recently been aggressive in buying shares. They now own more than 14% of the company, but have denied that a hostile takeover is imminent.

The purchases were made while Scandinavian’s share was on an upward trajectory. So far this year, the share is up 195 percent, while the increase has been 15 percent in the past three months.

The only shareholder with more Scandinavian shares is CEO and founder Björn Tore Larsen with just under 20 percent.

The purchases were made through the family company Scorpio Holdings. Scorpio Group is a Monaco-based company owned by the family of its Italian president, Emanuele Lauro.

They’re a shipping family, and so is Lauro, among other things President of their oil tanker company, Scorpio Tankers.

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The target will not be revealed

Robert Bugbee, Scorpio’s system director, wrote in an email to E24 on Wednesday that they did not want to comment on how many Scandinavian shares the company ultimately wants to hold.

He responds as follows to questions about whether they have contacted other Scandinavian shareholders to discuss potential sales:

-We only purchased shares through shareholders residing in Oslo. We have not directly contacted any shareholders to speak to them regarding the sale of shares.

Bugbee has previously denied that the stock purchases were part of a hostile takeover.

-We know Bjorn. We love Bjorn. We have informed him and his management that we support him. We have made it clear to him that we want to and have continued to build our position on what we see as an investment opportunity, he said last week.

CEO and largest shareholder Bjørn Tore Larsen at Nourse “does not comment on individual shareholder relationships,” the airline’s communications department said last week.

Contributor lists have a lag of two days and therefore do not capture changes that occurred on those two days. Changes can stem from normal purchases or sales, but also from other types of transactions or events.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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