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Euronav merger with Gener8 Maritime approved

Contributor: Editorial, 12 June 2018

Oil shipping company Euronav reported that the merger with Gener8 Maritime Inc was approved by Gener8's shareholders and, as the transaction is not subject to any further regulatory approvals, is expected to close on 12 June 2018.

On closing, Gener8 will become a wholly owned subsidiary of Euronav. The combined entity has an operating fleet of 74 crude tankers and two FSO vessels with an aggregate carrying capacity of 19.4 million deadweight tons.

Euronav will remain listed on NYSE and Euronext after the issue of approximately 60.9 million new shares to Gener8 shareholders.

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Euronav NV
US$684.3 million
Entity type: