ABG Sundal Collier is acting as financial advisor to Frontline in connection with its potential USD 4.5 billion stock-for-stock combination with Euronav

ABG Sundal Collier is acting as financial advisor to Frontline (FRO), a leading owner of large crude carriers, in connection with a potential stock-for-stock combination with Euronav (EURN) based on an exchange ratio of 1.45 FRO shares for each EURN share, implying ownership shares of 41% (FRO shareholders) and 59% (EURN shareholders), respectively, of the combined company. The combined entity will have a market capitalisation of approximately USD 4.5 billion and an enterprise value of around USD 9 billion and will command an unparalleled position as global market leader in the large tanker segment. The transaction is subject to agreement on a transaction structure, confirmatory due diligence, applicable approvals and various other completion conditions.