In Connecticut, Marine Link reported that Belgian tanker operator Euronav and its controlling shareholder CMB have entered into a share purchase agreement for the acquisition of 100% of the shares in cleantech maritime group CMB.TECH for $1.15 billion in cash. Euronav said the transaction is part of its renewed strategy of diversification, decarbonization and accelerated optimization of the its current crude oil tanker fleet, driven by CMB.TECH’s ‘future-proof’ fleet of 106 low carbon vessels, of which 46 are under construction. The report noted that CMB.TECH builds, owns, operates and designs large marine and industrial applications that run on dual-fuel diesel-hydrogen and diesel-ammonia engines and monofuel hydrogen engines. It also offers hydrogen and ammonia fuel that it either produces or sources from external produces to its customers, the report added. “After having reached an agreement with Famatown Finance Limited and Frontline plc on the strategic and structural deadlock for Euronav, we are pleased to announce another significant milestone for Euronav with the acquisition of CMB.TECH. This will allow the Company to rapidly and meaningfully execute its diversification and decarbonization strategy,” said Alexander Saverys, Euronav’s and CMB’s CEO.
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