Gunvor Group

Gunvor Group

March 20, 2014 16:20 ET

Gunvor Ensures Continued Operations

GENEVA, SWITZERLAND--(Marketwired - March 20, 2014) - Anticipating potential economic sanctions, and so to ensure with certainty the continued and uninterrupted operations of Gunvor Group Ltd's activities, the shares of the company held by Mr. Gennady Timchenko were sold on March 19 from his personal holding vehicle to Mr. Torbjorn Törnqvist personally. As a result, Mr. Törnqvist has become the majority owner of Gunvor Group Ltd, with an 87 percent stake, and Mr. Timchenko has fully divested his entire holdings in the company. The remaining 13 percent of shares are held by senior employees of Gunvor. There are no outside shareholders.

Contact Information

  • Gunvor Group
    Seth Thomas Pietras
    Corporate Affairs Director
    +41 79 870 6290