Star Bulk completes Augustea acquisition

Star Bulk completes Augustea acquisition

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.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts