File Photo: By sunsinger / Shutterstock
CMB.TECH has announced the acquisition of an approximately 40.8% stake in Golden Ocean Group Limited from John Fredriksen’s Hemen Holding Limited. The deal involves 81,363,730 shares of the dry bulk shipping company valued at $14.49 per share, equal to approximately $1.2 billion.
This strategic move follows CMB.TECH’s recent transformation from its former identity as Euronav. The company, which rebranded in 2024, has been actively pursuing a diversification strategy under the leadership of CEO Alexander Saverys.
“The acquisition of the Golden Ocean shares from Hemen represents a significant milestone in CMB.TECH’s diversification strategy,” stated Alexander Saverys, CEO of CMB.TECH.
The transaction marks a notable evolution in the relationship between the Saverys family and John Fredriksen, following their previous ownership battle over Euronav.
Golden Ocean brings substantial dry bulk capacity to the deal, operating a modern fleet of 91 vessels with approximately 13.7 million deadweight tonnes. CMB.TECH has already identified a bank syndicate to refinance Golden Ocean’s current outstanding debt if necessary.
The deal combines CMB.TECH’s diverse fleet of over 150 seagoing vessels – including crude oil tankers, dry bulk vessels, containerships, chemical tankers, and offshore wind vessels – with Golden Ocean’s substantial dry bulk operations.
The transaction will not trigger mandatory takeover requirements in any jurisdiction.
This acquisition continues the strategic repositioning that began when Alexander Saverys took the helm as chief executive following shareholder approval of Euronav’s fleet restructuring.
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