CMB.TECH and Golden Ocean have signed an agreement to combine in a stock-for-stock merger, the companies announced on Wednesday.
Under the agreement, initially announced on April 22, 2025, Golden Ocean will merge into CMB.TECH Bermuda, a wholly-owned CMB.TECH subsidiary, with Golden Ocean shareholders receiving 0.95 CMB.TECH shares for each Golden Ocean share. Upon completion, CMB.TECH will issue approximately 95 million new shares and, following the transaction, CMB.TECH shareholders will own around 70% of the combined company.
Golden Ocean specialises in the transportation of dry bulk cargoes. CMB.TECH owns and operates more than 150 seagoing vessels, including crude oil tankers under the Euronav brand, dry bulk vessels under Bocimar and chemical tankers under Bochem. CMB.TECH also operates offshore wind vessels and produces hydrogen and ammonia fuel.
“By merging CMB.TECH and Golden Ocean, the value of our fleets would reach more than 11 billion USD and, combined with our public listings and enhanced liquidity in our shares, we will have all the necessary firepower to continue to invest in our fleet and seize opportunities,” said CMB.TECH CEO Alexander Saverys, upon the April 22 announcement of the transaction.
The boards of both companies have unanimously approved the merger, which remains subject to regulatory and shareholder approvals, as well as SEC registration and listing of the new shares on the NYSE.
Source: By theenergyyear.com