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BRIEF-GOGL announces acquisition of 16 modern dry bulk vessels for about 412.4 mln
March 14, 2017 / 8:34 PM / 8 months ago

BRIEF-GOGL announces acquisition of 16 modern dry bulk vessels for about 412.4 mln

March 14 (Reuters) - Golden Ocean Group Ltd:

* GOGL - acquisition of 16 modern dry bulk vessels

* Golden Ocean Group Ltd - entered into agreements to acquire 16 modern dry bulk vessels in an all-share transaction

* Golden Ocean Group Ltd - deal for transaction value is approximately USD 412.4 million

* Golden Ocean Group Ltd - acquisition will add significant scale to golden ocean’s operating fleet and contribute to reducing cash breakeven levels

* Says to acquire 16 modern dry bulk vessels where co will issue in aggregate 17.8 million shares, assume debt of $285.2 million

* Golden Ocean Group -will acquire Quintana’s 14 vessel fleet and assume fleet’s corresponding debt of USD 262.7 million in consideration for 14.5 million shares

* Golden ocean group ltd says transaction should be accretive also in terms of cash breakeven levels Source text for Eikon: Further company coverage:

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