$1.2 Billion Mega Acquisition! Dry Bulk Shipping Market Welcomes a New Giant

Recently, CMB.TECH announced the acquisition of approximately 40.8% of the shares in Golden Ocean Group Limited from John Fredriksen's Hemen Holding Limited. The transaction involves 81,363,730 shares at 14.49 per share, totaling approximately 14.49pershare,totalingapproximately1.2 billion.

This acquisition is a strategic move by CMB.TECH following its transformation from Euronav. After rebranding in 2024, the company has been actively pursuing a diversification strategy under the leadership of CEO Alexander Saverys.

"Acquiring Golden Ocean shares from Hemen is a significant milestone in CMB.TECH's diversification strategy," said Alexander Saverys, CEO of CMB.TECH.

Golden Ocean boasts a modern fleet of 91 vessels, totaling about 13.7 million deadweight tons. CMB.TECH has identified a syndicate to refinance Golden Ocean's existing debt if necessary.

This acquisition combines CMB.TECH's fleet of over 150 sea vessels, including crude oil tankers, dry bulk carriers, container ships, chemical tankers, and offshore wind sail vessels, with Golden Ocean's dry bulk operations. The transaction will not trigger mandatory acquisition requirements in any jurisdiction.

This acquisition continues the evolving relationship between the Saverys family and John Fredriksen, following their previous encounter in the battle for ownership of Euronav.