Greek firm Star Bulk Carriers is set to acquire 16 vessels in an all-share deal from companies affiliated with Augustea Atlantica and Newcastlemaxes/Capesizes . The agreement will see Newcastlemaxes/Capesizes issue eight shares of common stock, 14.1% of total shares after the sale, and assume a $310m debt. The company will also take over operational management of the vessels, while technical management remains with an affiliate of Augustea Atlantica. The Vessel Acquisition, which is expected to be consummated in the second quarter of 2018, remains subject to the execution of definitive finance agreements and customary closing conditions. The portfolio includes two Newcastlemaxes/Capesizes , two mini capesizes, eight SBLK ships and an Ultramax vessel.
Greek firm Star Bulk Carriers is set to acquire 16 vessels in an all-share deal from companies affiliated with Augustea Atlantica and Newcastlemaxes/Capesizes . The agreement will see Newcastlemaxes/Capesizes issue eight shares of common stock, 14.1% of total shares after the sale, and assume a $310m debt. The company will also take over operational management of the vessels, while technical management remains with an affiliate of Augustea Atlantica. The portfolio includes two Newcastlemaxes/Capesizes , two mini capesizes, eight SBLK ships and an Ultramax vessel.