STAR BULK COMPLETES ACQUISITION OF 16 BULK CARRIERS

Star Bulk Carriers announced that it has completed the full-share acquisition of 16 bulk carriers from Augustea Atlantica SpA and York Capital Management.

The company stated that the final consideration for the acquisition of the Augustea vessel is 10.3 million shares of common stock of the company, equivalent to approximately 11.3% of the ordinary shares of Star Bulk after the Augusta ship acquisition. As part of the transaction, the company will assume approximately $309 million in debt. Upon completion of the acquisition of the Augustea vessel, Raffaele Zagari will be appointed as a C-director of the Star Bulk Board of Directors. The company will own approximately 91.7 million shares of common stock.



Star Bulk is a global shipping company that providing global shipping solutions to the dry bulk industry. Star Bulk's fleet is primarily bulk carriers, which include iron ore, media, grain, bauxite, fertilizer and steel products.

The Augustea Group is a shipping service provider that operates in the following businesses: Dry bulk shipping, Deep sea hauling services and Marine barge transport.

York Capital Management is a global investment management company with assets under management of approximately $21.7 billion as of June 2016.

 http://sowoll.com/en/blog/post/450-star-bulk-completes-acquisition-of-16-bulk-carriers

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