Hafnia Completes Acquisition of 13.97% Stake in TORM plc from Oaktree Capital
Hafnia Finalizes Major Share Acquisition in TORM
Hafnia Limited successfully completed the acquisition of a substantial block of shares in tanker company TORM plc (TRMD) on December 22, 2025. The transaction, which was first announced in September 2025, involved the transfer of TORM A-shares from affiliates of Oaktree Capital Management, L.P. to Hafnia.
The acquired TORM A-shares represent approximately 13.97% of TORM's total issued share capital as of the completion date. This figure serves as the key data point signaling the materiality of the transaction for both companies in the shipping sector.
Shareholder Structure Shifts Post-Acquisition
Following the completion of the share transfer, the ownership structure of TORM plc has been formally updated. According to the major shareholder announcement issued on December 23, 2025, the holdings of the involved parties are as follows:
- Oaktree Capital now holds 26,425,059 A shares in TORM.
- Hafnia Limited now holds 14,156,061 A shares in TORM.
The acquisition effectively transitions Hafnia into a significant strategic investor in TORM, a move that was anticipated since the initial announcements made by TORM plc on September 3 and September 9, 2025.
Sector Implications and Market Impact
The transaction links two major players in the global shipping and tanker market. While the announcement did not detail the financial terms of the acquisition, the transfer of a nearly 14% stake suggests a strategic alignment or investment by Hafnia in TORM’s future performance. Both companies operate within the product and crude tanker segments, and increased cross-ownership could potentially lead to future operational or strategic collaborations, although none were immediately announced.
The total number of TORM A-shares held by Oaktree and Hafnia combined represents a substantial portion of the company's equity, underscoring the continued interest of institutional investors and industry peers in the tanker sector's outlook.
Background and Timeline
The process began with TORM plc informing the market in early September 2025 about the potential acquisition. The formal completion date of December 22, 2025, marks the finalization of the deal, which was subsequently disclosed to the market the following day. This type of major shareholder announcement is mandatory for publicly listed companies like TORM plc, which trades on the NASDAQ under the tickers TRMD and TRMD A.
The acquisition highlights the dynamic nature of ownership within the shipping industry, where private equity firms like Oaktree often divest stakes to strategic industry buyers like Hafnia, potentially signaling a shift in long-term investment strategy for the divesting party and a consolidation of influence for the acquiring party.
