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New Deal


Announced

Completed

Castor Maritime completed the spin-off of Toro.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Spin Off

marine fleet operator

Public

Cyprus

Domestic

marine tankers

Majority

Marine Transportation

Friendly

Demerger

Single Bidder

Completed

Synopsis

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Castor Maritime, a diversified global shipping company, completed the spin-off of Toro, a company comprised of its tanker fleet comprising one Aframax, five Aframax/LR2 and two Handysize tankers. The Board of Castor believes that the creation of a business in a distinct sector of the shipping industry – tankers – will provide significant benefits to both companies and their shareholders.

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