Euronav NV (ENXTBR:EURN) agreed to acquire CMB.TECH NV from CMB NV for $1.2 billion on December 22, 2023. The consideration will be paid in cash. As part of the consideration, $1150 million was paid towards common equity. The purchase price will be financed from the cash proceeds of the sale of part of the VLCC fleet to Frontline. The net debt of CMB.TECH corresponds to $2.496 billion. As a part of strategy and the Transaction, Euronav intends to propose to its shareholders to change its corporate name to CMB.TECH following completion of the Transaction and the Offer. The CMB.TECH Acquisition has been approved by the Euronav Supervisory Board on the advice of a committee of independent directors. Completion of the Transaction is subject to approval by a special general meeting of Euronav?s shareholders. Transaction is expected to close in February 2024. On February 7, 2024, Euronav shareholders approved the purchase of 100% of the shares of CMB.TECH NV.

Degroof Petercam Corporate Finance SA/NV acted as a financial advisor, and provided fairness opinion to a committee of independent directors. Linklaters LLP acted as a legal advisor to Euronav NV. SG Corporate & Investment Banking acted as financial advisor to CMB NV.
Euronav NV (ENXTBR:EURN) completed the acquisition of CMB.TECH NV from CMB NV on February 8, 2024.