Star Bulk completed the merger with Eagle Bulk Shipping in a $609m deal.

Star Bulk, a global shipping company focusing on the transportation of dry bulk cargoes, completed the merger with Eagle Bulk Shipping, a US-based fully integrated shipowner-operator engaged in the global transportation of dry bulk commodities, in a $609m deal. Under the terms of the merger agreement, Eagle Bulk Shipping unitholders will own approximately 29%, and Star Bulk shareholders will own approximately 71%, of the combined company, which will be valued at $2.1bn. “This is an exciting day for Star Bulk as we bring together our companies and create a global leader in dry bulk shipping. We are moving forward with greater scale, a stronger financial profile and unique technical and commercial capabilities to grow our business, better serve our customers and deliver sustainable value for our shareholders,” Petros Pappas, Star Bulk CEO.