Add-on Acquisition • Transportation

Euronav NV Acquires Gener8 Maritime

On December 21, 2017, Euronav NV acquired transportation company Gener8 Maritime

Acquisition Context

This is Euronav NV’s 2nd transaction in the Transportation sector.
This is Euronav NV’s 1st transaction in the United States.
This is Euronav NV’s 1st transaction in New York.

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M&A Deal Summary
Date	December 21, 2017
Target	Gener8 Maritime
Sector	Transportation
Buyer(s)	Euronav NV
Deal Type	Add-on Acquisition
Advisor(s)	UBS Investment Bank (Financial) Shearman & Sterling Kramer Levin Naftalis & Frankel (Legal)

Target Company

Gener8 Maritime

New York, New York, United States

Gener8 Maritime, Inc. is a transportation provider of seaborne crude oil and petroleum products. The Company owns and operates one of the world’s largest and most diverse fleets of tankers, serving a client base consisting of the world’s major oil companies. Gener8 Maritime employs a highly-experienced executive team that has proven adept at navigating global macro cycles, effectuating tight quality and cost control and employing focused marketing efforts resulting in consistent returns delivered to investors.

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Buyer Overview 1

Buyer

Euronav NV

Antwerpen, Belgium

Category	Company
Sector	Marine
Revenue	474M EUR (2014)

DESCRIPTION

Euronav NV is a provider of shipping services in addition to its fleet of modern large tankers.

Deal Context for Buyer	#
Overall	2 of 2
Sector: Transportation	2 of 2
Type: Add-on Acquisition	1 of 1
State: New York	1 of 1
Country: United States	1 of 1
Year: 2017	1 of 1

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2017-12-21	Euronav NV - Six VLCCs Antwerpen, Belgium Euronav NV - Six VLCCs include five 2016-built VLCCs and one 2015-built VLCC, each constructed at Shanghai Waigaoqiao Shipbuilding Co., and are expected to be delivered to the Company in the second quarter of 2018. In connection with the transaction, the Company intends to assume the debt currently secured by the acquired vessels, which consists of a $311 million credit facility, maturing between 2027 and 2028, and carrying a fixed annual interest rate of LIBOR plus 2.0%.	Sell	$434M

DATE

TARGET

DEAL TYPE

VALUE

2017-12-21

Euronav NV - Six VLCCs

Antwerpen, Belgium

Euronav NV - Six VLCCs include five 2016-built VLCCs and one 2015-built VLCC, each constructed at Shanghai Waigaoqiao Shipbuilding Co., and are expected to be delivered to the Company in the second quarter of 2018. In connection with the transaction, the Company intends to assume the debt currently secured by the acquired vessels, which consists of a $311 million credit facility, maturing between 2027 and 2028, and carrying a fixed annual interest rate of LIBOR plus 2.0%.

Sell

$434M

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