Who Owns Euronav NV Company?

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Who Really Controls Euronav (Now CMB.TECH)?

Understanding a company's ownership structure is crucial for any investor or strategist. Euronav NV, a major player in crude oil shipping, recently underwent a significant transformation, changing its name to CMB.TECH NV. This shift signals a bold move towards diversification and decarbonization, making it a pivotal moment to examine who truly controls this evolving maritime giant.

This exploration into Euronav NV SWOT Analysis will delve into the intricate web of Euronav's (now CMB.TECH's) ownership, from its initial founding to the influence of major shareholders and investors. We'll uncover the key players shaping its future, including the impact of the Saverys family and the implications for Euronav stock. This analysis aims to provide a comprehensive understanding of the Euronav company's ownership structure and its strategic direction, offering valuable insights for anyone interested in Euronav's financial performance and future prospects.

The formation of Euronav NV on June 26, 2003, marked a significant consolidation in the tanker shipping industry. This entity emerged from the merger of tanker businesses from three established shipping companies: Compagnie Maritime Belge NV (CMB), Compagnie Nationale de Navigation SA (CNN), and Ceres Hellenic Shipping Enterprises Ltd. This strategic move aimed to create a more robust and competitive player in the global maritime market.

The roots of Euronav can be traced back to 1989 when it began operating under the 'Euronav' name. The evolution continued with a joint venture in 1995 between European Navigation Company Ltd. and CMB, leading to the formation of Euronav Luxembourg NV. By 1997, CMB's acquisition of CNN solidified its control, making Euronav Luxembourg NV a wholly-owned tanker division of CMB.

The Saverys family, with a long-standing presence in shipping since the early nineteenth century, played a pivotal role in Euronav's ownership. Having acquired CMB in 1991, the Saverys family's influence was central to the company's structure. While specific equity details from the 2003 inception aren't publicly available, CMB's foundational role and the Saverys family's control are evident. Early ownership agreements were largely shaped by CMB's ownership of Euronav as its tanker division.

Key Ownership Insights

Understanding the early ownership of Euronav NV is crucial for grasping its corporate history. The Saverys family, through CMB, significantly influenced the company's structure and direction. The consolidation of tanker businesses from CMB, CNN, and Ceres Hellenic Shipping Enterprises Ltd. formed the foundation of Euronav. For more on the company's strategic direction, see the Growth Strategy of Euronav NV.

• Euronav's formation in 2003 involved the merging of tanker businesses from three established shipping companies.
• CMB, under the Saverys family, played a central role in Euronav's ownership and development.
• The company's lineage traces back to 1989, with significant ownership shifts occurring through the 1990s.
• Early ownership dynamics were largely shaped by CMB's overarching control as the parent company.

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The ownership of Euronav NV has seen significant shifts since its initial public offering. The company's shares began trading on Euronext Brussels on December 1, 2004, and later on the New York Stock Exchange (NYSE) in January 2015. Key events, including mergers and acquisitions, have reshaped the shareholder structure, impacting who owns Euronav.

Early strategic moves included an alliance with Tanklog Ltd. in April 2005, making Tanklog the second-largest shareholder. A notable merger with Gener8 Maritime in December 2017 further altered the ownership, with former Gener8 shareholders obtaining a 28% stake. More recently, interactions with Frontline Ltd. and the Saverys family have led to significant changes, solidifying the Saverys family's control over the company.

As of April 15, 2024, CMB held 80.51% of Euronav's shares, representing 91.21% of the voting rights. Euronav itself holds 11.73% of its shares in treasury. Major institutional investors in Euronav NV as of May 2025 include BlackRock, Inc. and JP Morgan Chase & Co. Mutual funds have decreased holdings from 1.57% to 1.51% in May 2025. To understand more about the company's strategies, you can read about the Marketing Strategy of Euronav NV.

Key Ownership Facts

The ownership of Euronav has evolved through strategic alliances, mergers, and acquisitions, with CMB holding a significant majority stake. The Saverys family, through CMB, now controls the company.

• CMB holds over 80% of Euronav shares.
• Major institutional investors include BlackRock, Inc. and JP Morgan Chase & Co.
• Euronav's treasury holds a significant portion of its own shares.
• Mutual funds have decreased holdings.

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The current board of directors of Euronav (now CMB.TECH) is heavily influenced by its principal shareholder, the Saverys family, through CMB. Alexander Saverys serves as the Chief Executive Officer and is a member of the Management Board. Ludovic Saverys holds the position of Chief Financial Officer. The company's Corporate Governance Charter stipulates that the Chief Executive Officer, in their role as Chair of the Management Board, possesses a casting vote in the event of a tie.

This structure underscores the Saverys family's significant control over the company's strategic direction and operational decisions. Their positions within the leadership team, combined with the governance framework, ensure their influence is central to Euronav's operations.

The voting structure of Euronav has been significantly affected by CMB's increasing ownership. As of April 15, 2024, CMB's 80.51% shareholding translated to 91.21% of the voting rights, illustrating a concentration of control. This substantial control stems directly from CMB's strategic acquisitions of Euronav shares. The boardroom conflict with Frontline and the Saverys family's efforts to prevent the proposed merger with Frontline highlighted the power of major shareholders to shape the company's strategic direction. The resolution of this deadlock, with CMB acquiring Frontline's stake, further solidified the Saverys family's voting power and control over Euronav's decision-making. For more details, explore the Revenue Streams & Business Model of Euronav NV.

Understanding Euronav NV Ownership

The Saverys family, through CMB, has a dominant role in Euronav NV ownership. This control is exerted through significant shareholdings and key positions within the company's leadership. The voting rights are heavily concentrated, reflecting the Saverys family's influence over strategic decisions.

• CMB's substantial shareholding provides significant voting power.
• Alexander Saverys, as CEO, has a casting vote in case of ties.
• The company's strategic direction is largely influenced by the Saverys family.
• The resolution of the Frontline merger further solidified their control.

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The Euronav NV ownership structure has significantly evolved over the past few years, largely due to the strategic moves by the Saverys family's CMB. CMB's control over Euronav solidified through a mandatory public takeover bid that concluded on March 15, 2024. During this period, approximately 69,241,955 shares, representing 31.47% of outstanding shares, were tendered, increasing CMB's total holdings to 177,147,299 shares, or 80.51% of outstanding shares, by March 18, 2024.

Following the consolidation of ownership, Euronav approved the acquisition of 100% of CMB.TECH NV for $1.150 billion in cash on February 7, 2024. This acquisition marked a significant strategic shift, diversifying operations beyond crude oil tankers. The company's transformation was formalized on October 1, 2024, when Euronav NV officially changed its name to CMB.TECH NV, with the stock ticker changing from EURN to CMBT on July 15, 2024.

Despite the shift in control, major institutional investors such as Goldman Sachs and Norges Bank increased their positions in Euronav, now CMB.TECH, indicating confidence in the company's future. CMB.TECH announced a net profit of USD $870.8 million for the full year 2024 and a total contract backlog of USD $2.94 billion. The company's strategic focus on diversification and decarbonization, as highlighted by CEO Alexander Saverys, is expected to drive future growth.

Ownership Consolidation

The Saverys family, through CMB, has dramatically increased its control over Euronav, now CMB.TECH, culminating in a majority stake.

Strategic Diversification

The acquisition of CMB.TECH NV marks a shift away from solely crude oil tankers, expanding into various sectors.

Financial Performance

CMB.TECH reported a net profit of USD $870.8 million for 2024, demonstrating strong financial health.

Future Outlook

The company anticipates growth in offshore wind, chemical tankers, and container markets, guided by its strategic transformation.

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