OSG Closes Maritrans Buy

Wednesday, November 29, 2006
Overseas Shipholding Group completed its purchase of Maritrans. Each outstanding share of Maritrans' common stock was converted into the right to receive $37.50 a share in cash. Based on 12.0 million shares outstanding and the assumption of net debt outstanding as of Sept. 30, the transaction is valued at $471 million, the company said. The company financed the acquisition with borrowings under its revolving credit agreement and intends to repay up to $300 million of this amount from qualified withdrawals under its capital construction fund. Source: The Street
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MARAD’s Jaenichen Issues Statement on El Faro

U.S. Maritime Administrator Paul Jaenichen has issued a statement following the U.S. Coast Guard’s announcement that it will suspend the search for survivors from the missing cargo ship El Faro.

HMS Announces Management Hires

Marine services company Harley Marine Services (HMS) has expanded its management team, naming Don Martin as Vice President and General Counsel and Steve Carlson as Vice President of Engineering,

FMC's William P. Doyle Issues Statement on EL FARO Tragedy

On Thursday evening, October 1, 2016, the ship EL FARO went missing. The ship was en route from Jacksonville, Florida to San Juan, Puerto Rico. On Monday, four days after the ship vanished,

Maritime Contracts Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1406 sec (7 req/sec)