Antwerp-based maritime group CMB.Tech has acquired a 40.8 percent stake in Bermuda-registered dry bulk shipping company Golden Ocean.
The Belgian firm is investing nearly 1.2 billion euros, purchasing shares from Norwegian shipping magnate John Fredriksen. This is notable given CMB.Tech’s history with Fredriksen, as the Belgian Saverys family previously engaged in a public battle over Euronav.
CMB.Tech acquired all of Hemen Holding Limited’s shares in Golden Ocean at 14.49 dollars per share. The company stated that this move aligns with its strategy to diversify, though further details remain undisclosed. CMB.Tech aims to become a long-term shareholder and invest in a modern dry bulk fleet.
The deal follows past tensions between the Saverys family (owners of Compagnie Maritime Belge) and Fredriksen over Euronav’s future. In 2023, CMB sought to buy out Fredriksen’s Frontline at 18.4 dollars per share, leading to an 18-month negotiation.
The proposed merger between Euronav and Frontline was ultimately blocked by the Saverys family, who increased their stake to prevent the deal.
