DryShips Inc. Announces Acquisition of Vessel
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: GlobeNewswire
ATHENS, Greece, May 03, 2019 (GLOBE NEWSWIRE) -- DryShips Inc. (NASDAQ:DRYS) (“DryShips” or the “Company”), a diversified owner and operator of ocean going cargo vessels, today announced that it has agreed to acquire from an entity that may be deemed to be beneficially owned by the Company’s Chairman and CEO, Mr. George Economou, one Newcastlemax drybulk carrier built in 2017, for a purchase price of approximately $50.0 million. The purchase price was based on the average fair market value of the vessel, as determined by independent third party broker valuations, and the transaction was unanimously approved by the board of the Company and a special committee of independent and disinterested directors and remains subject to satisfactory documentation. The purchase includes existing financing in place and will be effected by way of long-term bareboat charter party with purchase obligation. The vessel is expected to be delivered to DryShips in the second quarter of 2019 and in c
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