Refile: Euronav says shareholders CMB and Frontline reach deal on acquisition

Frontline

09/10/2023 07:50

(Adds missing word "it" to specify CMB will own Euronav)
       Oct 9 (Reuters) - Belgium's Euronav  EUAV.BR  on Monday
said that its two major shareholders CMB and Frontline  FRO.OL 
have reached a deal which would see CMB take control of the oil
transport and storage company. 
    CMB will buy Frontline's 26.12% stake in Euronav for $18.43
per share, after which it will own it, while Frontline will buy
24 VLCC tankers from Euronav's fleet for $2.35 billion. 
    CMB will own 49.05% of Euronav's issued shares and 53% of
its voting rights and will launch a takeover for all outstanding
shares.
    Euronav added it would terminate its pending arbitration
action against Frontline and its affiliates. 
    
    

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com;))