Brief: CMB, Frontline, Famatown Agree On Euronav Share Deal

Frontline

09/10/2023 07:48

Oct 9 (Reuters) - Euronav NV  EUAV.BR :
    * CMB, FRONTLINE AND FAMATOWN AGREE ON INTEGRATED SOLUTION
FOR 
STRATEGIC AND STRUCTURAL DEADLOCK AT EURONAV
    * CMB AND ITS AFFILIATES CURRENTLY OWN 22.93% OF EURONAV’S
ISSUED
SHARES
    * FRONTLINE AND FAMATOWN TOGETHER OWN 26.12% OF EURONAV’S
ISSUED
SHARES
    * INTENDS TO MAINTAIN EURONAV’S LISTING ON EURONEXT BRUSSELS
AND
THE NEW YORK  STOCK EXCHANGE, IT HAS NO INTENTION TO LAUNCH A
SQUEEZE-OUT
    * STRUCTURAL AND STRATEGIC DEADLOCK BETWEEN EURONAV'S
REFERENCE
SHAREHOLDERS MAY IMPACT CO'S ABILITY TO ADAPT TO CUSTOMER
EXPECTATION AND MARKET EVOLUTIONS, WHICH IS EXPECTED TO BECOME
VALUE DESTRUCTIVE IN LONGER TERM
    * ARBITRATION PROCEEDINGS BETWEEN EURONAV, FRONTLINE IN 
RESPECT
OF COMBINATION AGREEMENT WILL BE TERMINATED

Source text for Eikon:  ID:nNDL9Lsm4M 
Further company coverage:  EUAV.BR 

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