Golden Ocean Group shareholders have approved the planned stock-for-stock merger with CMB Tech at a special general meeting held in Bermuda on August 19. The company announced that all resolutions related to the merger were approved.
The closing of the merger is now expected to take place on August 20, 2025.
Under the terms of the agreement, each outstanding common share of Golden Ocean will be cancelled and exchanged for newly issued CMB Tech ordinary shares at an exchange ratio of 0.95 ordinary shares of CMB Tech for each common share of Golden Ocean.
Following the merger, the combined entity will be one of the largest listed diversified maritime groups, with a fleet of approximately 250 vessels. Current CMB Tech shareholders are expected to own approximately 70 per cent of the new company, with Golden Ocean shareholders owning the remaining 30 per cent.
Golden Ocean will subsequently 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.