OSLO: Euronav NVand the Anglo-Eastern Univan Group have declared a Heads of Agreement (HoA) for the acquisition of Euronav Ship Management Hellas (ESMH), the ship management division of Euronav.
The agreement marks a pivotal step for both companies as they prepare to consolidate their strengths. Anglo-Eastern will take over the ship management duties for the fleet currently managed by ESMH, maintaining the existing operational standards. This strategic sale is poised to bolster Anglo-Eastern’s position in the Greek market, significantly expanding its operations in the large crude oil tanker segment.
Following the integration, ESMH will be incorporated into Anglo-Eastern’s extensive global network. This merger is expected to unlock a plethora of growth opportunities for the new conglomerate across various regions and vessel categories, setting a new course for the future of maritime management.
Bjorn Hojgaard, CEO of Anglo-Eastern, emphasised the mutually beneficial nature of this agreement which “will enable both companies to focus on what they do best and reflects Euronav’s utmost confidence in Anglo-Eastern’s ability to deliver as a ship manager and wider initiatives related to safety, quality, digitalisation, crew training and decarbonisation”.
Alexander Saverys, CEO: “We are very happy to join forces with Anglo-Eastern. We already have a strong collaboration with Anglo-Eastern and this combination will further enhance our business relation, offering plenty of new opportunities for our company and our people.”