Brief: Pangaea Logistics Solutions Ltd. Acquires Majority Stake In Nordic Bulk Holding Company To Further Strengthen Specialty Ice Niche

Pangaea Logistics Solutions

28/09/2020 13:41

Sept 28 (Reuters) - Pangaea Logistics Solutions Ltd
 PANL.O :
    * PANGAEA LOGISTICS SOLUTIONS LTD. ACQUIRES MAJORITY STAKE
IN
NORDIC BULK HOLDING COMPANY TO FURTHER STRENGTHEN SPECIALTY ICE
NICHE
    * PANGAEA LOGISTICS - ACQUIRED ADDITIONAL ONE-THIRD EQUITY
INTEREST IN ITS PARTIALLY-OWNED CONSOLIDATED SUBSIDIARY NORDIC
BULK HOLDING COMPANY LTD
    * PANGAEA LOGISTICS SOLUTIONS LTD - ACQUISITION INCREASES
PANGAEA'S EQUITY INTEREST IN NBHC TO 66.7%
    * PANGAEA - PURCHASE PRICE OF EQUITY INTEREST WAS $22.5
MILLION,
WITH $15 MILLION CASH PAYMENT UPON CLOSING, 3ANNUAL PAYMENTS OF
$2.5 MILLION OVER NEXT 3 YEARS

Source text for Eikon:  ID:nPnblxGP5a 
Further company coverage:  PANL.O 

 ((Reuters.Briefs@thomsonreuters.com;))