Euronav takeover of Gener8 set for completion

Euronav takeover of Gener8 set for completion

Shareholders of Gener8 Maritime have approved plans to merge with Euronav, with 98% of those voting supporting the deal.

Gener8 will become a wholly-owned subsidiary of Euronav, with Euronav shareholders owning around 72% of the combined entity and Gener8 shareholders the remaining 28%.

The transaction is expected to close today, giving Euronav a fleet of 74 crude tankers and two FSO vessels. The tanker fleet consists of 43 VLCCs, 27 suezmaxes, 2 ULCCs and 2 LR1s.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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