Akin Gump Advises Oaktree on $290 Million Partial Sell-Down of TORM Shares

"Akin Gump Strauss Hauer & Feld LLP advised OCM Njord Holdings S.à r.l. (Oaktree) in a $290 million SEC-registered secondary public offering, selling 9,000,000 Class A shares of TORM plc while retaining approximately an 11% interest. The offering included a 30-day option for an additional 1.35 million shares. TORM is listed on Nasdaq and Nasdaq Copenhagen."

Akin Gump Strauss Hauer & Feld LLP 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 a public offering transaction. The transaction comprised a $290 million partial sell-down of Oaktree’s stake in TORM plc, one of the world’s largest owners and operators of product tankers. Oaktree sold 9,000,000 Class A common shares through an SEC-registered secondary public offering and continues to hold approximately an 11% interest in TORM. The offering also included a 30-day option granted to the underwriter to purchase up to an additional 1.35 million Class A common shares. TORM is listed on Nasdaq in New York and on Nasdaq Copenhagen. Akin Gump Strauss Hauer & Feld LLP represented OCM Njord Holdings S.à r.l. (Oaktree) with a team composed by: Harry Keegan (London corporate partner), Rosa A. Testani (New York capital markets partner), Dougall Meston (corporate partner), Alexandra I. Reuss (capital markets senior counsel), George O’Malley-Knowles (corporate counsel), Shahnur Chauhan (associate) and Wanyi Zhang (capital markets associate).

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Akin Gump Advises Oaktree on $290 Million Partial Sell-Down of TORM Shares

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Akin Gump Advises Oaktree on $290 Million Partial Sell-Down of TORM Shares

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