LONDON – Global law firm Reed Smith advised Augustea Group and York Capital Management on the sale of 16 vessels to Star Bulk Carriers, the Nasdaq listed global shipping business, in an all share transaction.
Tugboat towing container ship

Star Bulk has agreed to issue approximately 10.5 million common shares to the sellers, representing approximately 14 per cent of Star Bulk’s common shares, and to assume certain debt relating to the acquired vessels. The transaction is expected to close in the second quarter of 2018, subject to closing conditions being satisfied.

Augustea Group is a leading global provider of sea transportation services in dry bulk shipping, deep sea towing and barge transportation.  York Capital Management is a global institutional investment management firm, amongst the largest hedge funds in the world.