John Fredriksen-led Golden Ocean expands its fleet by taking over Greek rival Quintana shipping including 14 vessels.
The New York-listed bulker owner, with a fleet of some 70 vessels, will issue 14.5 mill. of its shares[ds_preview] to Quintana and assume 262.7 mill. $ in debt.
Based on the closing price of the Golden Ocean share on the Oslo Stock Exchange of 7.14 $ per share , the aggregate transaction value is approximately 412.4 mill. $.
Today, the company announced that it has completed an equity offering for issue of new shares of approximately 60 mill. $. The offering has been directed towards Norwegian and international institutional investors.
»The net proceeds will be used to partially pre-pay debt under the new loan agreements we expect to enter into in connection with the acquisition of 14 vessels from Quintana in an amount of approximately 17.4 mill. $, said the company.
