05:47 PM EDT, 05/28/2025 (MT Newswires) -- CMB.Tech ( CMBT ) and Golden Ocean ( GOGL ) said Wednesday they have agreed to merge in a stock-for-stock deal to create a maritime group with a combined fleet of about 250 vessels.

Under the merger plan, Golden Ocean ( GOGL ) will merge into CMB.Tech Bermuda, a unit of CMB.Tech ( CMBT ), the companies said.

Each Golden Ocean ( GOGL ) share will be exchanged for 0.95 new CMB.Tech ( CMBT ) shares, resulting in CMB.Tech ( CMBT ) shareholders owning about 70% of the combined company and Golden Ocean ( GOGL ) investors the rest after merger completion, they said.

The boards of both firm have approved the deal, the companies added. They expect to complete the merger in Q3.

Shares of CMB.Tech ( CMBT ) were up about 3.7% in after-hours activity, while Golden Ocean ( GOGL ) was up 0.6%.