Oaktree Capital Management sold all its remaining shares in Euronav during the fourth quarter 2019, after around 18 months as a shareholder in the New York Stock Exchange-listed tanker owner.
The US-based alternative asset investor sold 7.6 million shares in Euronav between 1 October and 31 December, according to Oaktree's 13F form for the fourth quarter, filed with the US Securities and Exchange Commission (SEC).
The position was equivalent to 3.5% of the VLCC owner's outstanding stock.
Oaktree first took a position in Euronav during the second quarter 2018, filings with the US SEC show.
Saverys sell shares
Euronav's founders, the Saverys family of Belgium, also reduced their combined position last year from 13.8% to 10.5% of the company, SEC filings show.
Marc Saverys, who helped start the company, owned 15.3m shares or 7% of the tanker company at the end of 2018.
His shareholding, however, had been reduced to 11.5m shares or 5.2% of Euronav by the end of 2019.
Likewise, the Saverys family's investment vehicle Saverco reduced its shareholding in Euronav from 6.1% to 5% during 2019 by selling 2.39 million shares last year.
The family's shipping company Compagnie Maritime Belge cut its Euronav stake from 0.7% at the end of 2018 to 0.3% on 31 December.
It finished the year in possession of 701,352 shares, filings show.
Second largest shareholder
Meanwhile, Chateauban SA, previously Euronav's second largest shareholder, has further reduced its shareholding in the company.
The firm held an 8.4% stake at the end of 2018, but sold a net volume of 5.5m shares over the course of 2019.
Chateauban finished the year with a 5.9% stake in Euronav, equivalent to 12.9m shares.
The Luxembourg-registered company is part of the CLdN-Cobelfret group and is involved in dry bulk shipping and ro-ro ownership.
