April 20, 2018 / 1:18 PM / 7 months ago

BRIEF-Star Bulk Announces The Acquisition Of 16 Vessels From Augustea Atlantica & York Capital Management

April 20 (Reuters) - Star Bulk Carriers Corp:

* STAR BULK ANNOUNCES THE ACQUISITION OF 16 VESSELS FROM AUGUSTEA ATLANTICA & YORK CAPITAL MANAGEMENT

* STAR BULK CARRIERS CORP - AS PART OF TRANSACTION, COMPANY WILL ASSUME DEBT OF $310.0 MILLION

* STAR BULK CARRIERS - DEAL CONSIDERATION WILL BE DETERMINED BASED ON AVERAGE VESSEL VALUATIONS BY INDEPENDENT VESSEL APPRAISERS

* STAR BULK CARRIERS - AS CONSIDERATION FOR VESSEL ACQUISITION, CO AGREED TO ISSUE ABOUT 10.5 MILLION SHARES TO SELLERS OF 16 VESSELS

* STAR BULK CARRIERS - UPON COMPLETION OF DEAL, EXPECTED THAT RAFFAELE ZAGARI WILL JOIN BOARD OF DIRECTORS OF STAR BULK

* STAR BULK CARRIERS - WILL BUY FLEET OF 5 NEWCASTLEMAXES/CAPESIZE VESSELS,2 MINI CAPESIZE VESSELS, 8 POST PANAMAX/KAMSARMAX VESSELS, 1 ULTRAMAX VESSEL

* STAR BULK CARRIERS CORP - VESSELS WILL BE ACQUIRED BY A NON-RECOURSE FULLY-OWNED SUBSIDIARY OF STAR BULK Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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