Businessman Gennady Timchenko has sold his shares in Gunvor, says the press center of the international oil trader.
According to the statement, on March 19, 2014, Timchenko sold his shares to Torbjorn Tоrnqvist who now has a control stake in Gunvor Group Ltd (87%).
The remaining 13% stake is held by the Group’s top managers.
Gunvor Group is one of the world’s largest independent commodity trading companies by turnover, providing integrated trading products and logistics services for participants in the worldwide oil and energy markets. The company’s main trading offices are in Geneva, Singapore, Nassau and Dubai, with a network of representative offices around the globe.