Sundt, grandchildren of founder Sigval Bergesen d.y., reacted more positively. They were firm that any offer for their shares would have to be extended to all other shareholders as well. By March 2003 the cousins had accepted World-Wide's offer. World-Wide then mounted a public offer and accumulated over 90% of the shares. The acquisition received considerable media attention as Bergesen was both Norway's largest shipping company and also one of its best. Both groups achieved a high degree of cooperation and continuity and a new holding company, Bergesen Worldwide Ltd, was soon incorporated in Bermuda in 2004 to reflect this acquisition. In 2005 the business was rebranded under a single group brand, BW. Bergesen's beginnings Sigval Bergesen d.y. hailed from a shipping family. His great-grandfather Berge Bergesen started a shipping company in 1840 and his father Sigval Bergesen founded his own in 1887. Sigval Bergesen d.y. joined his father's company in 1916 and after disagreeing with his father's refusal to commission two large 15,000 DWT tankers from Odense Steel Shipyard (which was owned by A.P. Møller), left the company with one of its contracts. He soon established his own company, then named Sig. Bergesen d.y. & Co., on 20 February 1935. The company was run by his partner, Erland Bassøe, for over four years after Sigval Bergesen d.y. accepted A.P. Møller's job offer and served as the latter's right-hand man. The company first ship, Président de Vogüé, was launched in May 1935. Charles Racine, named after Sigval Bergesen d.y.'s grandfather, joined the fleet in 1937 and Anders Jahre, named after the famed Norwegian shipping tycoon, was acquired in 1939. The Bergesen Fleet during the Second World War Just before the Second World War, Sigval Bergesen d.y. shifted the company headquarter from Stavanger to Oslo to facilitate communication with business contacts. The Stavanger office became a branch office which continued to be overseen by Erland Bassøe. During the war, the company's fleet of Président de Vogüé, Charles Racine, and Anders Jahre was considered modern for its time and also fully in operation. The ships temporary entered the management and operation of the Norwegian Shipping and Trade Mission (Nortraship). Charles Racine was sunk by three torpedoes on 10 March 1942 although her whole crew was rescued. Anders Jahre continued sailing independently most of the time although she joined a convoy whenever she sailed from the Persian Gulf or an Indian Port. The