Following the all share transaction Oceanbulk owners Oaktree investors own 61.3% of Star Bulk’s common stock while member of Pappas family own 12.6%. Petros Pappas has been appointed ceo of the newly merged Star Bulk.
Through the merger Star Bulk takes over a fleet of 15 bulk carriers and 26 newbuildings on order at yards in China and Japan.
Star Bulk will have 32 ships on the water and 37 newbuilds on order when the deal is closed, for a total fleet of 69 ships and 8.7m dwt.
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