New Board Directors in Nynas AB appointed

At an Extraordinary General Meeting in Nynas AB, new directors of the board were appointed by Davidson Kempner.

At an Extraordinary General Meeting in Nynas AB, the following new directors of the board were appointed by Davidson Kempner:

  • Anthony Place: An independent director bringing over twenty-five years of experience of assisting boards with preserving and maximising value for all stakeholders.
  • Stein Ivar Bye: An independent director bringing thirty years of experience in the downstream industry with previous working experience at ExxonMobil, Preem and Essar Oil.
  • Alexis Pourchet: a representative of Davidson Kempner Capital Management LP, bringing twenty years of experience in driving value for private and public companies, including acting in advisory roles with upstream and downstream energy companies such as Marathon Oil, Statoil (now Equinor), and Alon.

In the same meeting the following directors of the board have resigned: Bernd Schmidt, Rami Farah, and Mohamed Idriss.

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Nynas AB confirms that a binding agreement has been signed by an investment vehicle managed by Davidson Kempner Capital Management LP (together with its affiliates and affiliated investment vehicles, “Davidson Kempner”) for the acquisition of the entire equity stake (49.9%) in Nynas from Bitumina Industries Limited. Following completion of the acquisition, Davidson Kempner will be the largest individual shareholder of Nynas.