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Belgian shipping family warns of loss risk resulting from Euronav-Frontline merger

Euronav’s largest stakeholder, Belgian shipping group CMB owned by the Saverys family, doesn’t support the share acquisition deal the tanker carrier has signed with its future merging partner, Frontline.

Photo: PR / CMB

Belgian shipping group CMB, the largest stakeholder in tanker carrier Euronav, opposes the forthcoming merger with the latter’s major competitor Frontline.

CMB contends that a merger between the two carriers will not generate additional value for Euronav’s shareholders, according to a press release.

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