CMB.TECH NV announced the completion of its stock-for-stock merger with Golden Ocean Group Limited.
According to the company's release, the merger was executed through CMB.TECH Bermuda Ltd., a wholly owned subsidiary of CMB.TECH, which remains as the surviving entity.
CMB.TECH issued the merger consideration shares. Golden Ocean shareholders approved the merger on 19 August at a special general meeting, with 92.72% of shares present or represented voting in favor.
On 20 August, CMB.TECH increased its capital by issuing 95,952,934 new ordinary shares through a contribution in kind. These shares are delivered to former Golden Ocean shareholders at an exchange ratio of 0.95 ordinary CMB.TECH shares for each Golden Ocean common share, subject to rounding.
The newly issued shares began trading on Euronext Brussels and the New York Stock Exchange today. Euronext Oslo Børs has also approved a secondary listing of CMB.TECH’s shares under the ticker “CMBTO.” As part of this listing, CMB.TECH established a secondary share register in the Norwegian central securities depository, Euronext Securities Oslo, with DNB Bank ASA as registrar.
The combined group has around 250 vessels across segments including dry bulk, crude oil, chemical tankers, container ships, offshore wind vessels and port vessels. More than 80 of these vessels are hydrogen- and ammonia-ready. The fleet has a fair market value of about USD 11.1 billion and an average age of 6.1 years. The contract backlog is approximately USD 3.0 billion. Liquidity exceeds USD 400 million, including cash and undrawn credit facilities.
CMB.TECH NV is a publicly listed company incorporated in Belgium. It operates as a diversified maritime group with global activities and maintains listings on the New York Stock Exchange, Euronext Brussels, and Euronext Oslo Børs. The company is part of the Compagnie Maritime Belge group and is subject to Belgian corporate and financial regulations.
Golden Ocean Group Limited is a publicly listed shipping company incorporated in Bermuda. Before the merger, its shares were traded on Nasdaq and Euronext Oslo Børs. The company operated primarily in the dry bulk sector and was subject to Bermuda corporate law and the disclosure requirements of the exchanges where its securities were listed.