CMB.TECH NV and Golden Ocean Group have signed a merger agreement, leading to one of the world’s largest dry bulk shipping groups.
According to the deal, CMB.TECH shareholders will own approximately 70% of the total share capital of the consolidated company, with Golden Ocean shareholders owning the remaining 30%, provided that the exchange ratio is not adjusted. At the same time, the merger of the two companies will result in a combined fleet of over 250 vessels.
“We unanimously concluded that the proposed exchange ratio based on a CMB.TECH net asset value of 15.23 dollars per share and a Golden Ocean value of 14.49 dollars per share is fair and we believe that this proposed merger is in the best interests of the company and its shareholders,” Golden Ocean’s board chairman Carl Steen said.
On his part, CMB.TECH CEO Alexander Saverys said that “following the merger of CMB.TECH and Golden Ocean we will take another major step forward in building our leading diversified shipping group. The value of our fleet will exceed 11 billion dollars and, combined with increased liquidity, we will continue to invest in all opportunities.”
