CMB.TECH NV has announced the acquisition of 81,363,730 shares in Golden Ocean Group Limited from Hemen Holding Limited at a price of 14.49 per share.
The transaction, valued at approximately 1.18 billion, represents a 40.8% stake in Golden Ocean, including all shares controlled by Hemen.
The acquisition aligns with CMB.TECH’s strategic diversification goals, as the company aims to become a long-term shareholder in Golden Ocean and invest in a modern dry bulk fleet. The transaction will not trigger a mandatory takeover bid in Bermuda, Norway, the United States, or any other jurisdiction.
Alexander Saverys, CEO of CMB.TECH, stated, “The acquisition of the Golden Ocean shares from Hemen represents a significant milestone in CMB.TECH’s diversification strategy. We look forward to engaging with the board, management, and employees of Golden Ocean and to build on Golden Ocean’s and Mr. Fredriksen’s strong legacy to drive long-term growth and innovation.”
To address potential impacts on Golden Ocean’s financing agreements, CMB.TECH has identified a bank syndicate to refinance all or part of Golden Ocean’s current outstanding debt.
Golden Ocean, a Bermuda-based shipping company, operates a fleet of 91 dry bulk vessels with a total capacity of approximately 13.7 million deadweight tonnes. The company specializes in the transportation of dry bulk cargoes and is listed on the Nasdaq Global Select Market and the Euronext Oslo Stock Exchange.
CMB.TECH is a diversified maritime group headquartered in Antwerp, Belgium, operating over 150 vessels, including tankers, dry bulk carriers, and container ships, with a focus on green energy solutions such as hydrogen and ammonia.
Hemen Holding Limited is an investment vehicle controlled by Norwegian shipping magnate John Fredriksen, with significant interests in the maritime and energy sectors.