Golden Ocean Group will hold a special general meeting on August 19 in Bermuda to vote on its planned stock-for-stock merger with CMB Tech. The update on the deal's progress also noted that legal proceedings have been filed by dissenting shareholders.
The merger agreement will see Golden Ocean shareholders receive 0.95 shares of CMB Tech for each Golden Ocean share. Upon completion, current CMB Tech shareholders would own approximately 70 per cent of the combined company. Both companies said the merger will create one of the largest listed diversified maritime groups, with a combined fleet of approximately 250 vessels.
While the companies have received key regulatory approvals and aim to complete the merger on or around August 20, 2025, a new development has emerged. CMB Tech noted that Golden Ocean has received demand letters for additional disclosure and that some shareholders have stated their intention to exercise their rights as dissenting shareholders under Bermuda law.
The company confirmed that related legal proceedings have been filed and that the claims will be analysed and addressed.
Following the deal, Golden Ocean would delist from the Nasdaq and Euronext Oslo Børs, while CMB Tech will remain listed in New York and Brussels and will pursue a secondary listing in Oslo.