Euronav NV and Anglo-Eastern Univan Group have entered into a Heads of Agreement (HoA) for the sale and purchase of Euronav Ship Management Hellas (ESMH), Euronav’s ship management subsidiary.
Anglo-Eastern will take over the ship management responsibilities for the vessels currently managed by ESMH “as is.” This acquisition aims to grant Anglo-Eastern a robust local presence in the Greek market and significantly expand its footprint in the large crude oil tanker sector. After the integration, ESMH will be integrated into Anglo-Eastern’s extensive global network, opening up a broad range of growth opportunities in various regions and ship types.
Bjorn Hojgaard, CEO of Anglo-Eastern, highlighted the mutually beneficial nature of the agreement, stating it will allow both companies to focus on their strengths. He also expressed Euronav’s confidence in Anglo-Eastern’s capabilities in ship management, safety, quality, digitalisation, crew training, and decarbonisation.
Alexander Saverys, CEO of Euronav, expressed enthusiasm about joining forces with Anglo-Eastern, noting their existing strong collaboration and the new opportunities the combination will offer both companies and their employees.
The completion of the HoA is contingent upon further documentation and final approval by the respective board of directors.
