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DryShips Acquires 100% of Heidmar

Pic: Heidmar Inc.

Shailaja A. Lakshmi

DryShips, the Nasdaq-listed company controlled by Greek shipowner George Economou, has completed the acquisition of 100% of the issued and outstanding shares of Heidmar, a global tanker pool operator.

The diversified owner and operator of ocean going cargo vessels said in a press release that prior to the transaction, it indirectly owned approximately 49.8% of Heidmar.

As part of the transaction, DryShips acquired the remaining approximately 50.2% of Heidmar currently held by other unaffiliated entities, for an aggregate consideration of approximately $17 million. The transaction was approved by the independent directors of the Company.

In connection with the transaction, Pankaj Khanna has been appointed as CEO of Heidmar, with immediate effect.

George Economou, Chairman and CEO of DryShips Inc. commented: "We are excited to complete the acquisition of 100% of Heidmar and to simplify its ownership structure that will allow us to develop Heidmar to its full potential as an independent business line."

Pankaj Khanna, Heidmar's new CEO said: "I look forward to working with all of the Heidmar stakeholders to deliver a first class service always consistent with Heidmar's core values of transparency, relationships and performance."

Jun 10, 2019

 

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