Golden Ocean Group merger with CMB.TECH to finalize after August shareholder vote Golden Ocean Group Limited and CMB.TECH NV first announced their planned merger on 28 May 2025. The transaction is moving forward, and—provided that all required closing conditions are met on time—the companies intend to complete the merger shortly after Golden Ocean’s Special General Meeting of shareholders, scheduled for 19 August 2025.
Completion is currently expected around 20 August 2025. That date is also set to mark the first day of trading for the newly issued CMB.TECH merger consideration shares on the New York Stock Exchange (NYSE), Euronext Brussels, and, tentatively, on Euronext Oslo Børs.
Golden Ocean shareholders will receive CMB.TECH shares according to the market where their current holdings are listed. Those holding Golden Ocean common shares on Nasdaq will receive new CMB.TECH ordinary shares traded on NYSE.
Similarly, shareholders with Golden Ocean shares listed on Euronext Oslo Børs are expected to receive new CMB.TECH shares listed on Euronext Oslo Børs.
To support the closing process, Golden Ocean is switching its registrar in the Norwegian Central Securities Depository (VPS) from Nordea Trading & Custody Services, a part of Nordea Bank Abp, filial i Norge, to DNB Carnegie, a division of DNB Bank ASA.
As part of this transition, all Golden Ocean shares currently held through Nordea in Euroclear will be moved to DNB using the Clearstream system.
In connection with the registrar change—and to ensure smooth delivery of the merger consideration shares—there will be a temporary halt in the conversion of Golden Ocean shares between Euronext Oslo Børs (VPS) and Nasdaq (DTC).
Nordea is expected to suspend conversion services around two business days before the registrar transfer, with the halt remaining in place until the merger is finalized.
DNB aims to resume conversion services for the new CMB.TECH shares about two business days after those shares begin trading on Euronext Oslo Børs.
This means that conversion of Golden Ocean shares will likely be paused from around 4 August 2025 through the expected closing date of approximately 20 August 2025. A short pause will also apply to the new CMB.TECH shares immediately following the merger.
Golden Ocean Group Limited is a Bermuda‑incorporated maritime shipping company specialising in the transportation of dry bulk commodities such as ores, coal, grains and fertilisers. As of May 2025, its fleet comprised more than 90 vessels with an aggregate capacity of approximately 13.7 million deadweight tonnes. Golden Ocean’s ordinary shares are listed on the NASDAQ Global Select Market and have a secondary listing on Euronext Oslo Børs under the ticker GOGL.
CMB.TECH NV is a Belgian public company headquartered in Antwerp, operating a diversified maritime group that owns and operates over 160 vessels, including dry bulk, crude oil tankers, container ships, chemical tankers, offshore wind vessels, and port vessels. CMB.TECH offers hydrogen and ammonia fuel solutions through in‑house and third‑party production. The company is listed on Euronext Brussels and on the New York Stock Exchange under the ticker CMBT; a secondary listing on Euronext Oslo Børs is being pursued post‑merger.