Mergers & Acquisitions ·
Castor Maritime subsidiary agrees to acquire 41% stake in Marlow Navigation for $126M
CTRMCastor Maritime Inc.
Castor Maritime Inc.'s majority-owned subsidiary, MPC Oceanic Group AG, entered into an agreement to acquire a 41% stake in Marlow Navigation Co. Ltd., a provider of crew and technical ship management services. The purchase price is approximately USD 126 million, comprising a cash component of roughly USD 97 million and the issuance of new MPC Oceanic Group shares valued at USD 29 million. Completion is subject to regulatory approvals and expected in early 2027. Castor Maritime Inc. is a diversified global shipping and energy company.