Star Bulk to acquire 34 drybulk vessels from Excel
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Star Bulk to acquire 34 drybulk vessels from Excel in cash and stock deal
• 10:01 AM 19/8/2014
•Star Bulk Carriers (SBLK +5.2%) agrees to acquire 34 drybulk vessels from Excel Maritime Carriers (NYSE:EXM) for ~29.9M shares and ~$288M in cash for total consideration of $634.9M.
•The sale consists of 6 Capesize vessels, 14 sistership Kamsarmax vessels, 12 Panamax vessels and 2 Handymax vessels mainly built at shipyards in Japan.
•The vessels will be acquired in a series of closings which SBLK expects to complete by the end of 2014.
http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=SBLK&selected=SBLK
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