May 14, 2018 / 11:43 PM / 7 months ago

BRIEF-Songa Bulk Enters Into An Agreement To Combine Its Fleet With Star Bulk

May 14 (Reuters) - Songa Bulk Asa:

* ENTERS INTO AN AGREEMENT TO COMBINE ITS FLEET WITH STAR BULK

* AGREEMENT REGARDING SALE OF ALL OF CO’S VESSELS AGAINST CONSIDERATION OF 13,688,000 SHARES OF STAR BULK AND $144.55 MILLION IN CASH

* STAR BULK WILL ACQUIRE AND CANCEL SONGA’S OUTSTANDING WARRANT PROGRAM FOR 37K SHARES OF STAR BULK AND $450K IN CASH

* STAR BULK TO FINANCE CASH PORTION OF TRANSACTION THROUGH PROCEEDS OF A NEW FIVE-YEAR CAPITAL LEASE WITH CHINA MERCHANTS BANK LEASING

* STAR BULK INTENDS TO APPLY FOR A SECONDARY LISTING OF ITS COMMON SHARES FOR TRADING ON OSLO BØRS Source text for Eikon: Further company coverage:

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