Argo advised CMB on the sale of CMB.TECH to Euronav

Argo advised CMB on the sale of its cleantech division, CMB.TECH, to Euronav for USD 1.15 billion. This pivotal transaction fits into Euronav’s new strategy of diversification and decarbonization, adopted after CMB became its controlling shareholder. Given the pending public takeover bid by CMB on Euronav, the transaction was subject to approval of Euronav’s general meeting, which voted in favour of the transaction with an overwhelming 99.27% majority.