Euronav NV Faces Belgian Court Filing Over CMB Takeover Bid

TL;DR

FourWorld Capital is suing in Belgium over CMB's takeover bid for Euronav, but Euronav says they're not involved.

AI Summary

Euronav NV announced on March 4, 2024, that funds managed by FourWorld Capital Management LLC have filed a request with the Market Court in Belgium. This action is related to CMB NV's U.S. takeover bid for Euronav shares. Euronav NV stated it is not involved in these proceedings.

Why It Matters

This filing indicates potential legal challenges or procedural actions related to the ongoing takeover bid, which could impact the transaction's timeline or outcome.

Risk Assessment

Risk Level: medium — The involvement of a court filing related to a takeover bid introduces uncertainty and potential legal complexities.

Key Players & Entities

• Euronav NV (company) — Registrant and subject of takeover bid
• FourWorld Capital Management LLC (company) — Filing a request with the Market Court
• CMB NV (company) — Making a U.S. takeover bid for Euronav shares
• Market Court in Belgium (company) — Where the request was filed

FAQ

Filing Documents

• d10994725_6k.htm (6-K) — 20KB
• image00002.jpg (GRAPHIC) — 28KB
• 0000919574-24-001866.txt ( ) — 60KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. EURONAV NV (Registrant) Dated: March 4, 2024 By: /s/ Ludovic Saverys Name: Ludovic Saverys Title: Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE 4 March 2024 – 08:00 a.m. CET _______________________________________ INFORMATION REGARDING TAKEOVER BID BELGIUM ANTWERP, Belgium, 4 March 2024 – Euronav NV ("EURN", "Euronav" or "the Company") (NYSE: EURN & Euronext: EURN) has been informed that certain funds managed by FourWorld Capital Management LLC ("FourWorld") have now also filed a request with the Market Court in Belgium in connection with CMB's Belgian offer for the shares of the Company. The Company is not involved in these proceedings. This request follows a complaint that was filed by FourWorld in the United States District Court for the Southern District of New York on 26 February 2024 in connection with CMB's U.S. takeover bid for the shares of the Company. The complaint seeks, mainly for CMB to adjust the bid price taking into account alleged special benefits that would have been granted to Frontline on top of the cash purchase price paid by CMB for its shares of the Company. CMB has reacted in a statement to that complaint. That reaction can be consulted here . Euronav furthermore takes the opportunity to notify investors that in order to address some of the points raised in the complaints made both in the US and Belgium, it has made public on its website some further supporting documentation, including the annexes to the advice of the Committee of independent members of Euronav's Supervisory Board on https://www.euronav.com/en/investors/legal-information/sgm-2023/2023/ and the unredacted advice of Degroof Petercam on https://www.euronav.com/en/investors/legal- information/sgm-2024/2024/ . Contact: Communications Coordinator – Enya Derk

Forward-Looking Statements

Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include uncertainty as to the number of shares that will be tendered in the Bid and the impact on the continued listing of the shares on the New York Stock Exchange or Euronext Brussels, the fail

View Full Filing

View this 6-K filing on SEC EDGAR