The Saverys family company Compagnie Maritime Belge launched its mandatory takeover bid for the remaining 43% of shares in Euronav on Wednesday.
CMB announced the start of a month-long process with a cash offer of $17.86 for the remaining 94m shares in the tanker owner.
The move is the latest stage of the company restructuring following the shares-for-VLCCs deal struck with John Fredriksen-controlled companies in November to end an 18-month takeover battle.
