CMB's Euronav Takeover Bid Expires; Acquires 31.47%

TL;DR

CMB's bid for Euronav is over, they snagged 31.47% of shares.

AI Summary

Euronav NV confirmed on March 18, 2024, that the mandatory public takeover bid by CMB NV for Euronav shares expired on March 15, 2024. During the acceptance period, CMB acquired 69,241,955 Euronav shares, representing 31.47% of the outstanding shares.

Why It Matters

This filing details the outcome of a significant takeover bid, impacting Euronav's ownership structure and potentially its future strategic direction.

Risk Assessment

Risk Level: medium — The outcome of a takeover bid can lead to significant changes in company control and strategy, introducing uncertainty.

Key Numbers

• 31.47% — Shares Acquired (Percentage of Euronav shares acquired by CMB in the takeover bid.)
• 69,241,955 — Shares Acquired (Number of Euronav shares acquired by CMB in the takeover bid.)

Key Players & Entities

• Euronav NV (company) — Company filing the report
• CMB NV (company) — Bidder in the takeover
• March 15, 2024 (date) — Expiration date of the takeover bid
• March 18, 2024 (date) — Date of the press release
• 69,241,955 (dollar_amount) — Number of shares acquired by CMB
• 31.47% (dollar_amount) — Percentage of outstanding shares acquired by CMB

FAQ

Filing Documents

• d11006389_6-k.htm (6-K) — 19KB
• image00002.jpg (GRAPHIC) — 28KB
• 0000919574-24-002090.txt ( ) — 58KB

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 18, 2024 By: /s/ Ludovic Saverys Ludovic Saverys Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE Monday 18 March 2024 – 21:15 p.m. CET _______________________________________ RESULTS OF THE MANDATORY PUBLIC TAKEOVER BID ON EURONAV NV LAUNCHED BY CMB NV ANTWERP, Belgium, 18 March 2024 – Euronav NV ("EURN", "Euronav" or "the Company") (NYSE: EURN & Euronext: EURN) confirms that the acceptance period of the mandatory public takeover bid launched by CMB NV (the "Bidder") for all shares issued by Euronav NV ("Euronav") not already owned by CMB or its affiliates (the "Bid"), expired on 15 March 2024. During the acceptance period, 69,241,955 shares in Euronav, representing 31.47% of the outstanding shares in Euronav, were tendered into the Bid. As a result, the Bidder will hold a total of 177,147,299 shares in Euronav, representing 80.51% of the outstanding shares in Euronav. Taking into account the 17,790,716 treasury shares held by Euronav and the 24,400 shares held by Saverco NV, the Bidder and persons affiliated with it together will hold 194,962,415 shares, representing 88.61% of the outstanding shares in Euronav. Alexander Saverys, CEO of Euronav, said: "With the closing of the mandatory takeover offer on Friday, we turn the page on the final piece of the solution for the strategic and structural deadlock in Euronav. 75 % of the non-CMB shareholders have used the opportunity to sell their shares at the same price CMB paid to Frontline and Famatown. We will now sail full steam ahead to execute our value-creating strategy for Euronav and CMB.TECH." More information can be found in the press release by CMB that can be consulted here . Contact: Communications Coordinator – Enya Derkinderen Tel: +32 476646359 Email:

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