March 19 (Reuters) – Tanker company Euronav will exit Belgium’s blue-chip Bel-20 index after just two days of trading, as it no longer meets the membership conditions after its takeover by Compagnie Maritime Belge (CMB), bourse operator Euronext said on Tuesday.
CMB, owned by the Saverys family, and affiliates together hold 88.61% of the outstanding shares in Euronav, which exceeds the maximum allowed for the index.
“The Bel 20 rulebook prescribes that should the acquiring party own more than 85% of the shares, the company being acquired will exit the index,” Euronext…