An overwhelming majority of shareholders in Euronav have voted in favour of the acquisition of the Saverys family-controlled Compagnie Maritime Belge (CMB)’s cleantech division, CMB.TECH.
More than 99% of the shareholders backed the $1.15bn cash deal that will see the Antwerp-based dual-listed tanker giant with a fleet of 50 ships on a fully-delivered basis buy a diversified group comprised of four divisions that, among other things, builds, owns, operates and designs hydrogen and ammonia-powered ships in offshore wind support, dry bulk, container, chemical tanker, and other segments.
Other points on the agenda at the special general meeting, including resignations and appointments to the board, the interim discharge of directors, and other administrative arrangements were also approved.
CMB said earlier that the transaction fits into Euronav’s renewed strategy of diversification, decarbonisation and accelerated optimisation of the company’s current tanker fleet and that Euronav would finance the deal from the cash proceeds of the sale of part of the VLCC fleet to Frontline, which was agreed in October.
Euronav’s chief executive, Alexander Saverys (pictured), recently outlined plans for how the company should move forward after a long takeover battle with Frontline, setting sights on about 120 hydrogen and ammonia-powered newbuilds across different shipping segments.
The approved merger is expected to close in February. The company will be renamed CMB.TECH, with the Euronav brand remaining as part of its tanker division.
