CMB Tech to acquire Golden Ocean in $1.5 billion stock deal
May 28 (Reuters) - Belgian oil tanker group CMB Tech CMBT.BR is set to acquire shipping firm Golden Ocean Group GOGL.O in a stock-for-stock deal valued at $1.5 billion, the companies said on Wednesday.
Upon completion of the deal, CMB Tech shareholders would own about 70% of the company, while Golden Ocean shareholders would own the remainder.
Golden Ocean will merge with the surviving entity CMB Tech Bermuda, a subsidiary of the Belgian company.
The deal is expected to be completed in the third quarter of this year, forming a maritime group with a combined fleet of approximately 250 vessels, according to the companies.
Golden Ocean Group, a dry bulk shipping company, will be delisted from Nasdaq and Euronext Oslo Bors. CMB Tech will stay listed on the NYSE and Euronext Brussels and plans for a secondary listing on Euronext Oslo Bors after the completion.
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