CMB.TECH Acquires Significant Stake in Golden Ocean

Euronav ( (CMBT) ) has issued an update.

CMB.TECH has announced the acquisition of 81,363,730 shares in Golden Ocean Group Limited from Hemen Holding Limited, representing approximately 40.8% of Golden Ocean’s outstanding shares. This strategic move aligns with CMB.TECH’s diversification goals and positions the company as a long-term shareholder in Golden Ocean, with plans to invest in a modern dry bulk fleet. The transaction is not expected to trigger a mandatory public takeover bid. CMB.TECH has also appointed a banking syndicate to potentially refinance Golden Ocean’s existing debt, indicating a commitment to the company’s long-term growth and innovation.

More about Euronav

CMB.TECH is a diversified maritime group based in Antwerp, Belgium, operating over 150 sea vessels including crude oil tankers, dry bulk carriers, and container ships. The company also provides hydrogen and ammonia fuel, with a presence in Europe, Asia, the United States, and Africa. CMB.TECH is listed on Euronext Brussels and the NYSE.

YTD Price Performance: -14.16%

Average Trading Volume: 98,752

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $1.8B

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