CMB.TECH has successfully completed the stock-for-stock merger between Golden Ocean Group Limited and CMB.TECH Bermuda, a wholly-owned subsidiary of CMB.TECH, with CMB.TECH Bermuda Ltd. as the surviving company, and with CMB.TECH as the issuer of the merger consideration shares.
CMB.TECH has issued 95,952,934 new ordinary shares by means of a capital increase by contribution in kind. These shares will be delivered to former holders of Golden Ocean shares as merger consideration at the exchange ratio of 0.95 ordinary shares of CMB.TECH for each common share of Golden Ocean.
The merger creates one of the world’s largest diversified listed maritime groups, featuring:
• A combined diversified fleet of around 250 vessels, including dry bulk vessels, crude oil tankers, chemical tankers, container ships, offshore wind vessels and port vessels
• A future-proof fleet with more than 80 hydrogen- and ammonia-ready vessels, offering low-carbon fuel optionality
• A fair market value of the fleet of approximately $11.1 billion, underscoring scale and asset values
• A young and fuel-efficient fleet with an average age of 6.1 years
• A solid revenue visibility with a contract backlog of approximately $3.0 billion, supporting predictable cash flows and shareholder returns
• A global capital market presence with listings in New York, Brussels, and Oslo, with 38% expected free float providing trading liquidity
• A robust liquidity position exceeding $400 million, including cash on hand and undrawn credit facilities, providing financial flexibility and growth capacity.
Alexander Saverys, CEO of CMB.TECH, commented: “In less than 18 months, we have transformed a pure play crude oil tanker company into a large and leading diversified and future-proof maritime group. As we welcome the Golden Ocean team and fleet to the CMB.TECH family, we look forward to creating value for all our stakeholders with our modern fleet of more than 250 ships. $11 billion worth of assets, three public listings in New York, Brussels and Oslo, more than one third of our fleet ready to be powered by low carbon fuels, a contract backlog of $3 billion and one goal: decarbonize today to navigate tomorrow.”
