Castor Maritime's Subsidiary Agrees To Acquire 41% Stake In Marlow Navigation For $126M
Benzinga Newsdesk 5 hours ago
M&A
Castor Maritime Inc. (NASDAQ: CTRM) ("Castor" or the "Company"), a diversified global shipping and energy company, announces that on November 4, 2026, its majority-owned subsidiary, MPC Oceanic Group AG
Castor Maritime Inc. (NASDAQ: CTRM) ("Castor" or the "Company"), a diversified global shipping and energy company, announces that on November 4, 2026, its majority-owned subsidiary, MPC Oceanic Group AG (Deutsche Börse, Scale, ISIN DE000A1TNWJ4) ("MPC Oceanic Group"), entered into an agreement with the shareholders of Marlow Navigation Co. Ltd. ("Marlow") to acquire a 41% stake in Marlow, a provider of crew and technical ship management services headquartered in Limassol, Cyprus.
The purchase price for the 41% stake amounts to approximately USD 126 million and comprises a cash component of approximately USD 97 million and the issuance of new MPC Oceanic Group shares with a value of approximately USD 29 million to the shareholders of Marlow as part of a capital increase against contributions in kind.