- Golden Ocean Group (GOGL, Financial) and CMB.TECH (CMBT) announce a merger to form one of the world's largest maritime groups with approximately 250 vessels.
- The stock-for-stock merger will grant Golden Ocean shareholders 0.95 CMB.TECH shares for each GOGL share.
- Completion is expected in Q3 2025, subject to regulatory and shareholder approvals.
Golden Ocean Group Limited (GOGL) and CMB.TECH NV (CMBT) have agreed to merge, creating a global maritime powerhouse with a combined fleet of about 250 vessels. The merger will be executed on a stock-for-stock basis, with each Golden Ocean share exchanged for 0.95 CMB.TECH ordinary shares.
Upon completion, CMB.TECH shareholders will own approximately 70% of the newly combined company, while Golden Ocean shareholders will hold around 30%. The merger was unanimously approved by the boards of both companies, including Golden Ocean's special transaction committee of disinterested directors.
This strategic merger aims to leverage operational efficiencies, optimize fleet utilization, and increase negotiating power in the maritime industry. CMB.TECH will retain its listings on the NYSE and Euronext Brussels and plans to seek a secondary listing on Euronext Oslo Børs. Golden Ocean will delist from the Nasdaq and Euronext Oslo Børs once the merger is finalized.
The transaction, expected to close in the third quarter of 2025, remains subject to regulatory approvals, shareholder consent, SEC registration statement effectiveness, and NYSE listing approval for the new shares. This merger exemplifies a significant shift in the maritime sector, potentially providing substantial shareholder value.
