CMB.Tech inches towards Golden Ocean majority
The Saverys-owned company has purchased yet more shares of the bulker owner
After buying John Fredriksen’s share for some $1.2bn last month, CMB.Tech has added more purchases as it inches towards the 50% plus one share mark
CMB.Tech has purchased yet more shares of bulker owner Golden Ocean as it inches towards a majority stake.
The Saverys-owned company purchased 10.3m shares for $83.36m, according to a filing with the Oslo Stock Exchange.
This latest transaction takes CMB.Tech’s share of the bulker owner to nearly 46%, only a few percentage points shy of the 50% plus one share that would give it a majority stake.
It purchased John Fredriksen’s 40.4% stake in Golden Ocean for $1.2bn back in March and has since completed many share purchases to increase its stake to 45.58%.
Golden Ocean’s share price on the Nasdaq stock exchange has risen nearly 5% in the past five days and closed at $8.32 on April 1. This represents somewhat of a recovery since a drop-off after Fredriksen’s exit was announced, although there is some distance to go before it returns to the $10 mark it briefly breached before the Norwegian tycoon sold his shares.
