Golden Ocean and CMB.Tech Sign Merger Agreement Valued at $1.5B

CMB.Tech and Golden Ocean have signed a stock-for-stock merger valued at approximately $1.5B, as previously contemplated by a term sheet announced on April 22. The merger aligns with the original deal, where CMB.Tech would acquire all of Golden Ocean's outstanding shares in exchange for CMB.Tech shares. The transaction is subject to regulatory approvals and is expected to close in the fourth quarter.

CMB.Tech NV (NYSE: CMBT & Euronext Brussels: CMBT) and Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) have finalized their stock-for-stock merger agreement, valued at approximately $1.5 billion. The merger, as previously contemplated by a term sheet announced on April 22, involves CMB.Tech acquiring all outstanding shares of Golden Ocean in exchange for CMB.Tech shares [1].

The transaction is structured as a merger, with Golden Ocean merging into CMB.Tech Bermuda Ltd., a wholly-owned subsidiary of CMB.Tech. Upon completion, CMB.Tech shareholders will own approximately 70% of the total issued share capital, while Golden Ocean shareholders will own approximately 30% [1].

The merger will create one of the largest listed diversified maritime groups in the world, with a combined fleet of approximately 250 vessels. The deal is subject to customary conditions, including regulatory approvals and shareholder approvals. CMB.Tech aims to complete the merger in the fourth quarter of 2025 [1].

References:
[1] https://www.goldenocean.bm/press-release/4492/gogl-merger-between-cmb-tech-and-golden-ocean-2/