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.