EuroNav Demerger OK’d

Monday, September 20, 2004
The board of directors approved the proposal to demerge the crude oil shipping activities. For this purpose a demerger proposal will be deposited with the Registry of Commerce in Antwerp on September 21, 2004. Within the framework of this operation the crude oil activities will be demerged from CMB nv into Euronav nv. As a consequence of the demerger all CMB shareholders will be granted new shares in Euronav. CMB has already submitted a ruling application to the Ruling Commission in order to obtain confirmation of the tax neutrality of the envisaged transaction. CMB will also apply for a separate listing of the Euronav shares with Euronext Brussels, subject to the approval of the extraordinary general shareholders’ meeting. Said transaction will be explained in detail in a prospectus that will be submitted to the approval of the Banking Finance and Insurance Commission. The date of the extraordinary general meeting that will decide on the demerger will be fixed during a meeting of the board of directors on 26 October 2004 and will depend amongst others on the obtaining of a favourable ruling by the Ruling Commission.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Commodity Giant Steps out of the Shadows

A detailed new case study scrutinizing the risk-management Swiss-based Trafigura is the latest effort to "demystify" the once-secretive commodity trading industry,

Blackstone Unlikely to Enter Commodities Trade

Blackstone exec doesn't expect move into commodities in near term Blackstone Group LP is unlikely to make a foray into commodity trading in the short term as

Cargill to Buy 100,000mt of Certified Ivorian Cocoa

U.S. agribusiness trader Cargill aims to purchase 100,000 metric tons of certified Ivorian cocoa this season, up slightly from 95,000 metric tons last season, West

Finance

Commodity Giant Steps out of the Shadows

A detailed new case study scrutinizing the risk-management Swiss-based Trafigura is the latest effort to "demystify" the once-secretive commodity trading industry,

Blackstone Unlikely to Enter Commodities Trade

Blackstone exec doesn't expect move into commodities in near term Blackstone Group LP is unlikely to make a foray into commodity trading in the short term as

Ex-BP Employee Settles Insider-trading Oil Spill Case

A former 20-year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges

 
 
Maritime Contracts Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1197 sec (8 req/sec)