CMB.TECH acquires Hemen's shares in Golden Ocean – Disclosure of large shareholdings

Core Viewpoint - CMB.TECH NV has announced the acquisition of approximately 40.4% of Golden Ocean Group Limited's issued share capital through its subsidiary, marking a significant step in its diversification strategy [1][2][3] Group 1: Acquisition Details - CMB.TECH is acquiring 81,363,730 shares of Golden Ocean at a price of 14.49 USD per share, totaling approximately 1.18 billion USD [1] - The shares represent about 40.4% of Golden Ocean's issued share capital and approximately 40.8% of its outstanding shares with voting rights [1] - The transaction is expected to complete on 12 March 2025 and is not subject to any conditions [4] Group 2: Strategic Intent - The acquisition aligns with CMB.TECH's strategic objective of diversification, aiming to become a long-term shareholder in Golden Ocean and invest in a modern dry bulk fleet [2] - CEO Alexander Saverys emphasized the importance of this acquisition as a milestone in the company's diversification strategy and expressed intentions to engage with Golden Ocean's management to drive long-term growth and innovation [3] Group 3: Financial Considerations - CMB.TECH has identified a bank syndicate to refinance all or parts of Golden Ocean's current outstanding debt, indicating proactive financial management in light of the acquisition [4]