Euronav and Frontline have delayed their merger bid until 2023 to avoid the tender offer clashing with Christmas and New Year holidays.
John Fredriksen’s Frontline is now likely to launch the offer for Euronav’s shares in the first quarter next year, not the final three months of 2022 as previously indicated.
The companies admit it is a complex deal, involving Frontline moving its registration from Bermuda to Cyprus, but “good progress” is being made.
