Saverys Family, CMB NV Amend Euronav Stake

TL;DR

**Saverys family and CMB NV just updated their Euronav holdings, signaling continued influence.**

AI Summary

Compagnie Maritime Belge NV (CMB NV), along with the Saverys family (Alexander, Ludovic, and Michael Saverys), filed an Amendment No. 23 to their Schedule 13D on February 16, 2024, regarding their ownership in Euronav NV. Ludovic Saverys, CFO of CMB NV, is listed as the contact person. The filing indicates continued significant influence over Euronav NV by the Saverys family and CMB NV.

Why It Matters

This filing signals ongoing strategic interest and potential control shifts within Euronav NV, a major deep-sea freight transportation company.

Risk Assessment

Risk Level: medium — The frequent amendments to the 13D suggest ongoing changes or strategic maneuvers regarding Euronav NV's ownership and control.

Key Players & Entities

• Compagnie Maritime Belge NV (company) — Filing entity and significant shareholder
• Euronav NV (company) — Subject company of the filing
• Alexander Saverys (person) — Group member associated with the filing
• Ludovic Saverys (person) — Group member, CFO of CMB NV, and contact person
• Michael Saverys (person) — Group member associated with the filing
• Saverco NV (company) — Group member associated with the filing
• Robert E. Lustrin, Esq. (person) — Legal counsel from Reed Smith LLP

FAQ

Key Financial Figures

• $1.68 billion — ribed in Item 4 below) is approximately $1.68 billion. The consummation of the Offers is not
• $3.2 billion — will be funded with borrowings under a $3.2 billion bridge facilities agreement entered int
• $1,110,000,000 — The Facilities Agreement provides for a $1,110,000,000 term loan bridge facility which was use
• $1,740,000,000 — the SPA Acquisition Bridge Facility), a $1,740,000,000 term loan bridge facility which will be
• $350,000,000 — Bid Acquisition Bridge Facility) and a $350,000,000 term loan bridge facility (the Margin L
• $20,000,000 — the SPA Acquisition Bridge Facility and $20,000,000 under the Margin Loan Bridge Facility f
• $18.43 — ates and Belgium at an offer price of US$18.43 per Ordinary Share, reduced on a dollar
• $0.57 — ady own. As a result of the dividend of $0.57 per Ordinary Share paid by the Issuer o
• $17.86 — Price has been reduced by US$0.57 to US$17.86 per share in cash, to be further reduce
• $1.68 b — ers at the Offer Price is approximately $1.68 billion, which it will fund with the proc
• $1.15 billion — ase such shares for a purchase price of $1.15 billion in cash. On February 7, 2024, the CMB.T

Filing Documents

• d541990dsc13da.htm (SC 13D/A) — 137KB
• d541990dex99a.htm (EX-99.A) — 5KB
• d541990dex99p.htm (EX-99.P) — 29KB
• g541990g0213094603625.jpg (GRAPHIC) — 2KB
• g541990g0213094603802.jpg (GRAPHIC) — 3KB
• 0001193125-24-038521.txt ( ) — 180KB

of the Original Schedule 13D is hereby amended and supplemented as follows

Item 2 of the Original Schedule 13D is hereby amended and supplemented as follows: (c),(f) The principal business of CMB is marine transportation. The principal business of Saverco is acting as an investment holding company. Saverco owns 100% of the outstanding shares of CMB. Alexander Saverys, Ludovic Saverys and Michael Saverys each own approximately 33.33% of the issued shares of Saverco. The name, citizenship, present principal occupation or employment and business address of each executive officer and director of CMB is set forth below. If no business address is given, the executive officers or directors address is De Gerlachekaai 20, 2000 Antwerp, Belgium. Name Position of Officer or Director Principal Occupation, Principal Business Address and Citizenship Ludwig Criel Director Mr. Criel is an independent consultant. Mr. Criel is a citizen of Belgium. Patrick De Brabandere Director Mr. De Brabandere is an independent consultant. Mr. De Brabandere is a member of the Issuers Supervisory Board. Mr. De Brabandere is a citizen of Belgium. Alexander Saverys Director and Chief Executive Officer Mr. Saverys is the Chief Executive Officer of the Issuer. Mr. Saverys is also a Director of Saverco. Mr. Saverys is a citizen of Belgium. Ludovic Saverys Director and Chief Financial Officer Mr. Saverys is the Chief Financial Officer of the Issuer. Mr. Saverys is also a Director of Saverco. Mr. Saverys is a citizen of Belgium. Michael Saverys Director and Chartering Manager Mr. Saverys is the Chief Chartering Officer of the Issuer. Mr. Saverys is also a Director of Saverco. Mr. Saverys is a citizen of Belgium. Marc Saverys Director and Chairman Mr. Saverys is a member of the Issuers Supervisory Board. Mr. Saverys is a citizen of Belgium. Maxime Van Eecke Director and Chief Commercial Officer Mr. Van Eecke is the Chief Commercial Officer of the Issuer. Mr. Van Eecke is a citizen of Belgium. Benoit Timmermans Chief Strate

of the Original Schedule 13D is hereby amended and supplemented by adding the following information

Item 3 of the Original Schedule 13D is hereby amended and supplemented by adding the following information: CMB estimates that the maximum amount of funds required to consummate the Offers (as defined and described in Item 4 below) is approximately $1.68 billion. The consummation of the Offers is not subject to any financing condition. The aggregate purchase price for Ordinary Shares validly tendered and accepted in the Offers will be funded with borrowings under the Bid Acquisition Bridge Facility (as defined below), and the unconditional and irrevocable availability of funds necessary for the payment of the aggregate purchase price for all Ordinary Shares subject to the Offers in the form of an irrevocable and unconditional credit facility made available by the Arrangers (as defined below) has been confirmed by KBC Bank NV (KBC) to the Belgian Financial Services and Markets Authority in accordance with Belgian law. Facilities Agreement As previously reported, the aggregate purchase price for Ordinary Shares validly tendered and accepted in the Offers will be funded with borrowings under a $3.2 billion bridge facilities agreement entered into among CMB and Crédit Agricole Corporate and Investment Bank, KBC, and Société Générale (collectively, the Bookrunning Mandated Lead Arrangers), Belfius Bank NV/SA, DNB (UK) Limited, ING Belgium SA/NV and Nordea Bank Abp filial i Norge (collectively, the Mandated Lead Arrangers) and Skandinaviska Enskilda Banken AB (publ) (the Lead Arranger and together with the Bookrunning Mandated Lead Arrangers and the Mandated Lead Arrangers, the Arrangers) dated November 20, 2023 (the Facilities Agreement). The Facilities Agreement provides for a $1,110,000,000 term loan bridge facility which was used to pay the purchase price for the purchase by CMB of an aggregate of 57,479,744 Ordinary Shares, representing 28.47% of the then outstanding Ordinary Shares (excluding treasury shares) from Frontline a

View Full Filing

View this SC 13D/A filing on SEC EDGAR