BERGESEN’S BOARD OF DIRECTORS RECOMMEND TAKEOVER

BERGESEN’S BOARD OF DIRECTORS RECOMMEND TAKEOVER    The board of directors of Bergesen d.y. ASA, based in Norway, has recommended to the company’s shareholders that they accept a takeover bid from an affiliate of the World-Wide Shipping group, a rival    tanker and bulk shipping group.
   World Nordic, a company controlled by World-Wide Shipping, offered to acquire all Bergesen A-shares for NOK180 per share and all Bergesen B-shares for NOK155 per B-share. The offer period expires on May 23.
   The World-Wide Shipping group, controlled by the Sohmen family of Hong Kong, announced in early April a NOK10.3 billion ($1.4 billion) bid to acquire Bergesen.
   In a related development, the Sohmen family has strengthened its control over Bergesen by securing positions on the company’s board of directors. Helmut Sohmen has been appointed chairman of Bergesen and Andreas Sohmen-Pao has been named vice chairman. Morten Sig. Bergesen has stepped down as the company’s former chairman, but he remains on its board of directors.