CMB.TECH Acquires Stake in Golden Ocean for Growth Strategy
CMB.TECH Enters Share Purchase Agreement with Hemen Holding
CMB.TECH NV (CMBT) has announced its acquisition of a substantial stake in Golden Ocean Group Limited (GOGL) through a share purchase agreement with Hemen Holding Limited. This strategic move allows CMB.TECH to secure 81,363,730 shares in Golden Ocean, which equates to approximately 40.8% of its outstanding shares. The shares will be purchased at a price of 14.49 USD each, marking a significant investment for CMB.TECH in the dry bulk shipping market.
Strategic Goals Behind the Acquisition
This acquisition is part of CMB.TECH's broader strategy aimed at diversification and long-term investment. The company is keen on becoming a major shareholder of Golden Ocean, thereby establishing a foothold in the maritime transportation sector which is pivotal for international trade.
Commitment to Long-term Growth
According to CMB.TECH's CEO, Alexander Saverys, this milestone illustrates the company's commitment to the maritime industry. He emphasizes the importance of working closely with Golden Ocean’s board and management to continue fostering the legacy of its founder, Mr. Fredriksen, and to spearhead innovation and growth.
Potential Financial Impacts
In light of this transaction, CMB.TECH is taking proactive steps regarding Golden Ocean’s financing agreements. The company has identified a syndicate of banks to refinance any outstanding debts at Golden Ocean, ensuring that the transition is smooth and financially strategic.
About CMB.TECH: An Overview
Headquartered in Antwerp, Belgium, CMB.TECH is recognized as a leader in the maritime sector, operating over 150 vessels that include crude oil tankers and dry bulk carriers. The company is also involved in sustainable energy initiatives, providing hydrogen and ammonia fuel solutions through both in-house production and third-party collaborations. CMB.TECH is committed to fostering a future-proof maritime industry that meets contemporary challenges.
About Golden Ocean Group
Golden Ocean, incorporated in Bermuda, specializes in dry bulk cargo transportation. As of early 2025, the company boasts a fleet comprising 91 vessels with a total carrying capacity of roughly 13.7 million deadweight tonnes. Golden Ocean is a publicly traded company with shares listed on the Nasdaq Global Select Market as well as on the Euronext Oslo Stock Exchange, positioning it well within the competitive shipping industry.
Frequently Asked Questions
What type of shares did CMB.TECH acquire?
CMB.TECH acquired 81,363,730 shares in Golden Ocean Group, representing approximately 40.8% of its outstanding shares.
What is CMB.TECH's strategy with this acquisition?
The acquisition is part of CMB.TECH's strategy for diversification and aims to establish the company as a long-term shareholder in the dry bulk shipping sector.
Who commented on the acquisition?
Alexander Saverys, the CEO of CMB.TECH, shared insights on the acquisition, highlighting its significance and the intent to uphold the legacy of Golden Ocean's founder.
How does CMB.TECH plan to handle Golden Ocean's finances post-acquisition?
CMB.TECH has identified a bank syndicate to refinance Golden Ocean's outstanding debts to mitigate any financial impacts from the acquisition.
What is the industry focus of Golden Ocean Group?
Golden Ocean specializes in the transportation of dry bulk cargo, incorporating a fleet that enhances its capabilities in the shipping industry.
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