CMB.TECH buys Hemen stake in Golden Ocean
CMB.TECH (NYSE & Euronext: CMBT) has announced a significant acquisition agreement with Hemen Holding to purchase 81,363,730 shares in Golden Ocean Group (NASDAQ & Euronext: GOGL), representing approximately 40.8% of Golden Ocean's outstanding shares and votes. The transaction is priced at $14.49 per share.
The deal aligns with CMB.TECH's strategic diversification objectives, aiming 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 any jurisdiction. CMB.TECH has secured a bank syndicate to refinance Golden Ocean's current outstanding debt if needed.
CMB.TECH (NYSE e Euronext: CMBT) ha annunciato un importante accordo di acquisizione con Hemen Holding per l'acquisto di 81.363.730 azioni di Golden Ocean Group (NASDAQ e Euronext: GOGL), che rappresentano circa il 40,8% delle azioni e dei diritti di voto in circolazione di Golden Ocean. La transazione è valutata 14,49 dollari per azione.
L'accordo è in linea con gli obiettivi di diversificazione strategica di CMB.TECH, con l'intenzione di diventare un azionista a lungo termine di Golden Ocean e investire in una moderna flotta di secco. La transazione non darà luogo a un'offerta pubblica di acquisto obbligatoria in nessuna giurisdizione. CMB.TECH ha assicurato un sindacato bancario per rifinanziare il debito attuale di Golden Ocean, se necessario.
CMB.TECH (NYSE y Euronext: CMBT) ha anunciado un importante acuerdo de adquisición con Hemen Holding para comprar 81.363.730 acciones de Golden Ocean Group (NASDAQ y Euronext: GOGL), lo que representa aproximadamente el 40,8% de las acciones y votos en circulación de Golden Ocean. La transacción está valorada en 14,49 dólares por acción.
El acuerdo se alinea con los objetivos de diversificación estratégica de CMB.TECH, con la intención de convertirse en un accionista a largo plazo de Golden Ocean e invertir en una moderna flota de graneleros. La transacción no desencadenará una oferta pública de adquisición obligatoria en ninguna jurisdicción. CMB.TECH ha asegurado un sindicato bancario para refinanciar la deuda actual de Golden Ocean, si es necesario.
CMB.TECH (NYSE 및 Euronext: CMBT)는 Hemen Holding과 함께 Golden Ocean Group (NASDAQ 및 Euronext: GOGL)의 주식 81,363,730주를 인수하는 중요한 계약을 발표했습니다. 이는 Golden Ocean의 총 발행 주식 및 의결권의 약 40.8%에 해당합니다. 거래 가격은 주당 14.49달러입니다.
이번 거래는 CMB.TECH의 전략적 다각화 목표와 일치하며, Golden Ocean의 장기 주주가 되고 현대적인 벌크선 함대에 투자하는 것을 목표로 하고 있습니다. 이 거래는 어떤 관할권에서도 의무적인 인수 제안을 촉발하지 않습니다. CMB.TECH는 필요시 Golden Ocean의 현재 미지급 부채를 재융자하기 위해 은행 신디케이트를 확보했습니다.
CMB.TECH (NYSE et Euronext : CMBT) a annoncé un accord d'acquisition significatif avec Hemen Holding pour acheter 81.363.730 actions de Golden Ocean Group (NASDAQ et Euronext : GOGL), représentant environ 40,8 % des actions et des droits de vote en circulation de Golden Ocean. La transaction est évaluée à 14,49 dollars par action.
Cette opération s'inscrit dans les objectifs de diversification stratégique de CMB.TECH, visant à devenir un actionnaire à long terme de Golden Ocean et à investir dans une flotte moderne de vrac. La transaction ne déclenchera pas d'offre publique d'achat obligatoire dans aucune juridiction. CMB.TECH a sécurisé un syndicat bancaire pour refinancer la dette actuelle de Golden Ocean si nécessaire.
CMB.TECH (NYSE und Euronext: CMBT) hat eine bedeutende Übernahmevereinbarung mit Hemen Holding angekündigt, um 81.363.730 Aktien von Golden Ocean Group (NASDAQ und Euronext: GOGL) zu erwerben, was etwa 40,8% der ausstehenden Aktien und Stimmen von Golden Ocean entspricht. Die Transaktion hat einen Preis von 14,49 Dollar pro Aktie.
Der Deal steht im Einklang mit den strategischen Diversifizierungszielen von CMB.TECH, die darauf abzielen, ein langfristiger Aktionär von Golden Ocean zu werden und in eine moderne Schüttgutflotte zu investieren. Die Transaktion wird in keiner Jurisdiktion ein obligatorisches Übernahmeangebot auslösen. CMB.TECH hat ein Bankenkonsortium gesichert, um gegebenenfalls die derzeitige ausstehende Verschuldung von Golden Ocean umzuschulden.
- Acquisition of 40.8% stake in Golden Ocean provides immediate market presence in dry bulk sector
- Strategic diversification into modern dry bulk fleet
- Bank syndicate secured for potential refinancing needs
- Significant capital outlay required (approximately $1.18 billion based on share price)
- Potential refinancing of Golden Ocean's debt may be necessary
Press release
Belgium, March 04, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT & Euronext: CMBT) (“CMB.TECH” or the “Company”) is pleased to announce that it has entered into a share purchase agreement with Hemen Holding Limited (“Hemen”), for the acquisition of 81,363,730 shares in Golden Ocean Group Limited (“Golden Ocean”) (NASDAQ: GOGL & Euronext: GOGL) (representing ca.
This acquisition is in line with CMB.TECH’s strategic objective of diversification, with the Company intending to become a long-term shareholder in Golden Ocean and investing in a modern dry bulk fleet.
Alexander Saverys, CEO of CMB.TECH, commented: "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 the extent the Transaction might impact Golden Ocean’s financing agreements, CMB.TECH has identified a bank syndicate to refinance all or parts of the current outstanding debt in Golden Ocean.
About CMB.TECH
CMB.TECH is a diversified and future-proof maritime group. We own and operate more than 150 seagoing vessels: crude oil tankers, dry bulk vessels, container ships, chemical tankers, offshore wind vessels & workboats. We also offer hydrogen and ammonia fuel to customers, through own production or third-party producers.
The company is headquartered in Antwerp, Belgium, and has offices across Europe, Asia, United States and Africa.
CMB.TECH is listed on Euronext Brussels and the NYSE under the ticker symbol CMBT.
More information can be found at https://cmb.tech
About Golden Ocean
Golden Ocean Group Limited (“Golden Ocean”) is a Bermuda incorporated shipping company specializing in the transportation of dry bulk cargoes. As of February 2025, the Golden Ocean fleet consists of 91 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 with a secondary listing on the Euronext Oslo Stock Exchange.
More information can be found at www.goldenocean.bm/.
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe”, “anticipate”, “intends”, “estimate”, “forecast”, “project”, “plan”, “potential”, “may”, “should”, “expect”, “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
Disclaimer
This press release is also published in Dutch. If ambiguities should arise from the different language versions, the Dutch version will prevail.
Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons distributing this communication must satisfy themselves that it is lawful to do so. The potential transactions described in this announcement and the distribution of this announcement and other information in connection with the potential transactions in certain jurisdictions may be restricted by law and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions.
This announcement is for information purposes only and is not an offer or a tender offer document and, as such, is not intended to constitute or form any part of an offer or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction.
This notice does not constitute a takeover bid to purchase securities of CMB.TECH nor a solicitation by anyone in any jurisdiction with respect to CMB.TECH. No action has been taken to enable a takeover bid in any jurisdiction, and no such actions will be taken. Neither this notice nor any other information in respect of the matters contained herein may be supplied in any jurisdiction where a registration, qualification or any other obligation is in force or would be with regard to the content hereof or thereof. Any failure to comply with these restrictions may constitute a violation of the financial laws and regulations in such jurisdictions.
Additional Information for U.S. Holders
This press release is for informational purposes only and is neither a recommendation, an offer to purchase nor an offer to sell any ordinary shares, no par value, of CMB.TECH or any other securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from CMB.TECH and that will contain detailed information about CMB.TECH and its management as well as financial statements.
[1] Excluding treasury shares.
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FAQ
How many Golden Ocean (GOGL) shares is CMB.TECH (CMBT) acquiring from Hemen Holding?
What is the price per share CMB.TECH (CMBT) is paying for Golden Ocean shares in March 2025?
Will CMB.TECH's acquisition of Golden Ocean shares trigger a mandatory takeover bid?
How does the Golden Ocean acquisition align with CMB.TECH's strategy?
