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Star Bulk agrees deal for 16 modern bulkers

Greece-based dry bulk company Star Bulk has reaffirmed its intent to be a consolidator in the dry bulk market as it unveiled a 16-vessel acquisition from Italian owner Augustea and US investment firm York Capital Management. The all-stock deal will see 10.5m new shares issued, equivalent to about 14.1% of the company, and will bring Augustea owner Raffaele Zagari onto the Star Bulk board.

Greece-based owner in all-share deal to buy 16 bulkers from Augustea and York Capital

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