SALE & PURCHASE

摘要

Star Bulk grabbed headlines this month with the announcement that they have entered into an agreement with Songa Bulk ASA for the sale of all of their dry bulk fleet. The deal is against a consideration of 13,688,000 Star Bulk shares and US$144,55m in cash. In addition, Star Bulk will acquire and cancel Songa's outstanding warrant program for 37,000 shares of Star Bulk and US$450k in cash. Star Bulk will finance the cash portion of the transaction through proceeds of a new five-year capital lease with China Merchants Bank Leasing. Further details of the fleet breakdown can be found in our sales page.