New York-listed Greek dry bulk owner Star Bulk Carriers has completed its acquisition of 16 bulkers from Augustea Atlantica and York Capital Management.
The all‐share transaction, which was announced in April, sees Augustea and York Capital take an 11.3% stake in Star Bulk. As part of the transaction, Star Bulk will also assume debt of around $309m.
Technical management of the vessels will remain with Augustea, while commercial management will be taken over by Star Bulk who’s fleet grows to 108 vessels.
Augustea’s Raffaele Zagari will take up a position on the board of directors of Star Bulk as part of the deal.
