ABG Sundal Collier acted as sole bookrunner in the private exchange offer in Euronav N.V.

On Saturday 28 May 2022, Frontline Ltd announced that it had agreed to acquire approximately 2.95% of the shares in Euronav N.V. in a privately negotiated share exchange transaction with certain shareholders. The tendering shareholders will receive newly issued Frontline shares, at an exchange ratio of 1.4 per Euronav share tendered. Frontline and Euronav announced on April 7th the plans for a potential combination between the two companies to create a global leader in the tanker industry. Frontline and Euronav are working extensively to conclude due diligence and finalize an appropriate transaction structure. This may include a voluntary exchange offer by Frontline for Euronav shares as a first step, and Frontline would then consider setting the minimum acceptance ratio as low as 50.1% including shares already owned by Frontline.
ABG Sundal Collier acted as sole bookrunner in the transaction and is financial adviser to Frontline Ltd in the contemplated merger.