Seward & Kissel representing CMB. TECH in its agreement with Golden Ocean Group Limited for a stock-for-stock merger

May 2, 2025

On April 22, 2025, Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) (“Golden Ocean”) and CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) (“CMB.TECH”) announced that they have signed a term sheet for a contemplated stock-for-stock merger. CMB.TECH will be the surviving entity, with an exchange ratio of 0.95 shares of CMB.TECH for each Golden Ocean share, subject to adjustments. The Merger will create one of the largest diversified listed maritime groups in the world with a combined fleet of more than 250 vessels. Seward & Kissel LLP is pleased to be representing CMB. TECH in this maritime transaction.

CMB. TECH is a diversified maritime group headquartered in Belgium, with offices across Europe, Asia, United States and Africa. It owns and operates over 150 seagoing vessels: crude oil tankers, dry bulk vessels, container ships, chemical tankers, offshore wind vessels and workboats.

Golden Ocean is a Bermuda incorporated Shipping company specializing in the transportation of dry bulk cargoes. Its fleet currently consists of 91 vessels, with an aggregate capacity of approximately 13.7 million deadweight tonnes.

The press release issued by CMB. TECH regarding this transaction may be found here.

The Seward & Kissel deal team for this transaction was led by Keith Billotti and he was assisted by Jim Abbott, Walter Van Dorn, Madison Pesce and Olivia Brand. Partner Ted Horton was also involved with the transaction, along with colleagues Nick Katsanos, Michael Indelicato and Rhea Sharma.

Seward & Kissel representing CMB. TECH in its agreement with Golden Ocean Group Limited for a stock-for-stock merger

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Keith J. Billotti

Edward S. Horton

James E. Abbott

Nick Katsanos

Walter Van Dorn

Madison Pesce

Olivia M. Brand

Michael Indelicato

Rhea Sharma

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