Posted on February 14, 2024
Euronav NV (“EURN”, “Euronav” or “the Company”) (NYSE: EURN & Euronext: EURN) announces that today CMB NV (“CMB” or “the Bidder”) has launched its previously announced mandatory public takeover bid on all the shares in Euronav that are not already owned by the Bidder or persons affiliated with the Bidder (the “Bid”).
The acceptance period in respect of the bid will open on 14 February 2024 and close on 15 March 2024. The bid price amounts to USD 17.86 per share in cash, i.e. USD 18.43 per share, less USD 0.57 dividend per share.
In its response memorandum, the supervisory board of Euronav has unanimously recommended as follows:
- if a shareholder is aligned with Euronav’s new future-proof strategy, it is recommended to remain invested in Euronav and not tender the shares; and
- if a shareholder does not embrace Euronav’s revised strategy, it is recommended to tender their shares to the Bidder in the Bid.
The prospectus (including the response memorandum and the acceptance forms) is available on the following websites: www.cmb.be/mandatorybid, www.kbc.be/euronav2024 and https://www.euronav.com/en/mandatory-bid/.
An offer to purchase has been filed on a form “Schedule TO” with the SEC and that same together with the company response (that will be included in a “Schedule 14D-9” filing) are available on the website: https://www.euronav.com/investors/company-news- reports/sec-filings/
Read the more detailed press release of CMB NV here: www.cmb.be/mandatorybid
About Euronav NV & CMB.TECH
Euronav and CMB.TECH (all capitals) together represent a group with around 150 ocean-going (including newbuildings) vessels in dry bulk, container shipping, chemical tankers, offshore wind and oil tankers. The group focuses on large marine and industrial applications on hydrogen or ammonia. They also offer hydrogen and ammonia fuel to customers, through own production or third-party producers. The company is headquartered in Antwerp, Belgium, and has offices across Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN.
Euronav plans to change the group’s name to CMB.TECH. Euronav will remain the oil tanker shipping division within the group.
More information can be found at www.euronav.com.
About CMB
CMB (Compagnie Maritime Belge) is a diversified shipping group based in Antwerp, Belgium. CMB is the majority shareholder of Euronav.
More information can be found at www.cmb.be.
