Euronav: Information Regarding Takeover Bid Belgium

Euronav NV has been informed that certain funds managed by FourWorld Capital Management LLC (“FourWorld”) have now also filed a request with the Market Court in Belgium in connection with CMB’s Belgian offer for the shares of the Company.

The Company is not involved in these proceedings. This request follows a complaint that was filed by FourWorld in the United States District Court for the Southern District of New York on 26 February 2024 in connection with CMB’s U.S. takeover bid for the shares of the Company.

The complaint seeks, mainly for CMB to adjust the bid price taking into account alleged special benefits that would have been granted to Frontline on top of the cash purchase price paid by CMB for its shares of the Company.

CMB has reacted in a statement to that complaint. That reaction can be consulted here.

Euronav furthermore takes the opportunity to notify investors that in order to address some of the points raised in the complaints made both in the US and Belgium, it has made public on its website some further supporting documentation, including the annexes to the advice of the Committee of independent members of Euronav’s Supervisory Board on https://www.euronav.com/en/investors/legal-information/sgm-2023/2023/ and the unredacted advice of Degroof Petercam on https://www.euronav.com/en/investors/legal-information/sgm-2024/2024/.
Source: Euronav