Golden Ocean Group and CMB.TECH Progress with Stock-for-Stock Merger, Anticipating Completion by August 20, 2025

Golden Ocean Group Limited (GOGL) and CMB.TECH are progressing with their stock-for-stock merger, with an expected completion date of August 20, 2025. The merger involves an exchange ratio of 0.95 CMB.TECH shares for each Golden Ocean share, pending shareholder approval. The special general meeting for Golden Ocean shareholders is set for August 19, 2025, where the Merger Agreement will be voted upon.

The stock-for-stock merger between Golden Ocean Group Limited (GOGL) and CMB.TECH NV is inching closer to completion, with an expected finalization date set for August 20, 2025. This merger, announced in April, involves an exchange ratio of 0.95 CMB.TECH shares for each Golden Ocean share, subject to shareholder approval.

The special general meeting for Golden Ocean shareholders is scheduled for August 19, 2025, at the Hamilton Princess and Beach Club in Bermuda. Shareholders of record as of July 16, 2025, are eligible to participate in the vote, where the Merger Agreement will be considered. If approved, the newly issued CMB.TECH shares will commence trading on the NYSE, Euronext Brussels, and potentially Euronext Oslo Børs, on August 20, 2025, with the last trading day for Golden Ocean shares on Nasdaq and Euronext Oslo Børs being the day prior.

The merger is contingent on several conditions, including the refinancing of Golden Ocean, which is currently progressing. Additionally, the companies are addressing shareholder demand letters seeking additional disclosures and legal proceedings from dissenting shareholders under Bermuda law. The completion date is expected to be on or around August 20, 2025, pending the successful fulfillment of these conditions.

[1] https://www.seatrade-maritime.com/dry-bulk/target-date-set-for-cmb-tech-golden-ocean-merger
[2] https://www.hellenicshippingnews.com/cmb-techs-update-on-the-golden-ocean-merger-process-2/
[3] https://www.marinelink.com/news/golden-ocean-cmbtech-set-august-target-528837
[4] https://www.globenewswire.com/news-release/2025/08/11/3130627/0/en/CMB-TECH-s-update-on-the-Golden-Ocean-merger-process.html