Belgian shipping company CMB Tech has entered into a share purchase agreement with Hemen Holding for the acquisition of 81,363,730 shares in Golden Ocean Group, at a price of US$14.49 per share.
The shares represent around 41 per cent of Golden Ocean’s outstanding shares and votes, including all Golden Ocean shares controlled by Hemen.
CMB said the transaction would not trigger a mandatory takeover bid or similar offer in Bermuda, Norway, the United States, or any other relevant jurisdiction.
"This acquisition is in line with CMB Tech's strategic objective of diversification, with the company intending to become a long-term shareholder in Golden Ocean and investing in a modern dry bulk fleet," said CMB.
"The acquisition of the Golden Ocean shares from Hemen represents a significant milestone in CMB Tech’s diversification strategy," added Alexander Saverys, CEO of CMB Tech.
"We look forward to engaging with the board, management and employees of Golden Ocean and to build on Golden Ocean’s and Mr. Fredriksen’s strong legacy to drive long-term growth and innovation.”