The Investment Doctor
Long/short equity, value, debt, base metals

Euronav - An Earth-Moving Acquisition, But Is The Company Still Cheap?

Introduction

In this article I'll revisit Euronav (OTC:EONVF), a Belgian company operating a fleet of tanker vessels. The share price is up 38% since the first article, but has reached a peak return of 64% after it closed a very important acquisition of additional vessels at a very favorable price. I will discuss whether or not it would still make sense to invest in Euronav and how favorable the vessel acquisition was, as Euronav had to cough up almost $1B to acquire fifteen vessels.

(click to enlarge)

Source: old company presentation

As trading on the US exchanges is very limited, I'd strongly recommend to trade in shares of Euronav on the Euronext Brussels exchange, where the company...

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