MPC Oceanic Group acquires 41% stake in Marlow Navigation

In a notable development within the maritime investment sector, MPC Oceanic Group has announced the acquisition of a 41% minority stake in Cyprus-based ship management services provider Marlow Navigation Group. The strategic transaction was unveiled on Wednesday and highlights the long-standing relationship between the two groups, which has been built over more than a decade.

As part of this agreement, Hamburg-based maritime investment firm MPC Oceanic Group, a company which invests in and operates businesses and assets in the maritime and energy sector, will issue new shares to Marlow’s existing shareholders, resulting of approximately 9% strategic shareholding in MPC Oceanic Group.

In addition, Marlow’s existing shareholders will retain majority ownership in Marlow, and Marlow will continue to operate independently under its established brand and with its current leadership team.

Castor Maritime, the majority shareholder of the Frankfurt-listed asset manager MPC Oceanic Group AG, said the purchase price for the 41% stake amounts to approximately US$126m and comprises a cash component of approximately US$97m and the issuance of new MPC Oceanic Group shares with a value of approximately US$29m to the shareholders of Marlow as part of a capital increase against contributions in kind.

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