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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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