CMB.TECH Secures Shareholder Approval for Merger with Golden Ocean

CMB.TECH Secures Shareholder Approval for Merger with Golden Ocean

CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) has successfully held its Special General Meeting today, achieving important milestones for the future of maritime operations. The meeting, referred to as the Golden Ocean SGM, highlighted the support of shareholders for a significant merger between CMB.TECH and Golden Ocean Group Limited.

Details of the Merger Proposition

The shareholders of Golden Ocean have granted approval for the stock-for-stock merger with CMB.TECH Bermuda Ltd., a wholly-owned subsidiary of CMB.TECH. This merger signifies a strategic alliance whereby Golden Ocean will merge with CMB.TECH, with CMB.TECH Bermuda Ltd. serving as the surviving entity. Under this arrangement, each common share of Golden Ocean will be swapped for 0.95 newly issued ordinary shares of CMB.TECH.

Timeline for Completion

The closure of this merger is anticipated to take place shortly, with the official closing date set for tomorrow. This expedited timeline reflects the confidence stakeholders have in the benefits this merger will bring.

About CMB.TECH

CMB.TECH is a well-established maritime group, currently operating a fleet of over 160 vessels, including crude oil tankers, dry bulk carriers, and container ships. The company is dedicated to innovative solutions, such as offering hydrogen and ammonia fuels to its clients. These initiatives are part of CMB.TECH's commitment to future-proofing maritime transport and contributing to sustainable practices in the industry.

Global Presence

Headquartered in Antwerp, Belgium, CMB.TECH maintains a strong international presence with offices located across Europe, Asia, the United States, and Africa. This expansive reach allows CMB.TECH to cater to various markets and customer needs efficiently.

About Golden Ocean

Golden Ocean, incorporated in Bermuda, is renowned for its specialization in the transportation of dry bulk cargo. With a fleet comprising roughly 90 vessels and a carrying capacity of around 13.7 million deadweight tonnes, Golden Ocean significantly contributes to global trade. Its shares are traded on Nasdaq and have a secondary listing on Euronext Oslo Børs.

Market Impact

The approval of this merger is expected to enhance efficiencies and drive synergies between CMB.TECH and Golden Ocean, ultimately benefiting both companies and their stakeholders. By combining resources, they aim to improve their market offerings and enhance shareholder value in the long term.

Looking Ahead

With the merger on the horizon, both CMB.TECH and Golden Ocean are positioned to leverage their strengths in the maritime industry. Shareholders can anticipate enhanced operational capabilities and expanded market reach, aligning with broader industry trends toward sustainability and efficiency.

Frequently Asked Questions

What does the merger between CMB.TECH and Golden Ocean involve?

The merger involves a stock-for-stock exchange where Golden Ocean shares will be converted into CMB.TECH shares, allowing for a unified entity that combines strengths from both companies.

When is the merger expected to be completed?

The completion of the merger is anticipated to occur on the following day after shareholder approval was granted.

How many vessels does CMB.TECH operate?

CMB.TECH operates over 160 vessels across various categories, showcasing its versatility in the maritime sector.

What types of fuel does CMB.TECH offer?

CMB.TECH is committed to sustainable practices and offers hydrogen and ammonia fuel to enhance its operations and customer offerings.

How does this merger impact shareholders?

The merger aims to enhance shareholder value by improving efficiencies, expanding market reach, and utilizing each company’s strengths in the maritime industry.

About The Author

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