Golden Ocean & CMB.TECH Merge To Create One Of World’s Largest Maritime Groups

CMB.TECH NV has officially completed its stock-for-stock merger with Golden Ocean Group Limited, creating one of the world’s biggest diversified listed maritime companies.

The merger was carried out through CMB.TECH Bermuda Ltd., a wholly owned subsidiary, which has now become the surviving company. It received strong support from Golden Ocean shareholders.

Shareholders representing 92.72% of the shares present or represented approved the transaction at a special general meeting. As part of the process, CMB.TECH issued 95,952,934 new ordinary shares through a capital increase by contribution in kind.

These new shares are being delivered to former Golden Ocean shareholders at an exchange ratio of 0.95 CMB.TECH shares for each Golden Ocean share, rounded as per the merger agreement.

The newly issued shares started trading today on Euronext Brussels and the New York Stock Exchange (NYSE). Euronext Oslo Børs has also approved the company’s secondary listing application.

Trading of the ordinary shares, including the new ones, has also begun today on Euronext Oslo under the ticker symbol “CMBTO.”

CMB.TECH has established a secondary share register in Euronext Securities Oslo (Verdipapirsentralen or VPS), with DNB Bank ASA, Issuer Services acting as the VPS registrar to facilitate this listing in Oslo. This register is linked to the U.S. component of CMB.TECH’s primary share register.

With the merger completed, CMB.TECH now operates a fleet of around 250 vessels, which includes dry bulk carriers, container ships, chemical tankers, crude oil tankers, offshore wind vessels, and port vessels.

The company has also built a future-ready fleet, with more than 80 vessels designed to be powered by hydrogen or ammonia, allowing for low-carbon fuel flexibility. The total fleet has a fair market value of USD 11.1 billion.

Reference: CMB.TECH

Source: Maritime Shipping News