2023-12-25 23:01:44
Shipping
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Published on: 12/26/2023 Last Updated: 12/25/2023 By: Adeline Descamps
Having barely arrived at the helm of Euronav, Alexandre Saverys initiated an agreement by which Euronav will acquire 100% of the shares of CMB.Tech for a purchase price of $1.15 billion. The operation aims to gradually reduce the share of revenues from the transport of crude oil and to make room for low-carbon ships. Change of name in perspective.
A month after Compagnie Maritime Belge (CMB), owned by the Saverys family, took control of the Belgian tanker company in a deal with its Norwegian rival Frontline, Euronav will spend half of the funds drawn of the agreement to buy CMB.Tech.
After the close of the stock markets on Friday, December 22, CMB and Euronav announced that the two companies had entered into a share purchase agreement allowing Euronav to acquire 100% of the shares of the subsidiary of the group created by the Saverys family for a purchase price…
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