CMB.TECH and Golden Ocean Group have signed a term sheet for a contemplated stock-for-stock merger, with CMB.TECH as the surviving entity, based on an exchange ratio of 0.95 shares of CBM.TECH for
CMB.TECH and Golden Ocean Group have signed a term sheet for a contemplated stock-for-stock merger, with CMB.TECH as the surviving entity, based on an exchange ratio of 0.95 shares of CBM.TECH for each share of Golden Ocean.
The Term Sheet has been unanimously approved by CMB.TECH’s Supervisory Board and by Golden Ocean’s Board of Directors, including its special transaction committee composed of disinterested directors.
The transaction would be structured as a merger with Golden Ocean merging with and into CMB.TECH Bermuda Ltd., a wholly-owned subsidiary of CMB.TECH.
The merger is expected to be completed in the third quarter of 2025.
It will create one of the largest diversified listed maritime groups in the world with a combined fleet of more than 250 vessels.
Peder Simonsen, CEO of Golden Ocean, said the merger would create one of the largest and most modern dry bulk fleets in the world, including 87 modern Capesize and Newcastlemax vessels, with a favorable long-term outlook.
Upon completion of the merger, 95,952,934 new shares of CMB.TECH would be issued, whereby CMB.TECH shareholders would own approximately 70% of the total issued share capital of the combined company and Golden Ocean shareholders would own approximately 30%.
Alexander Saverys, CEO
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