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Article: Genco Shipping & Trading Limited Acquires Minority Stake in Jinhui Shipping and Transportation Limited.
- Article from:
- PR Newswire
- Article date:
- May 2, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, May 2 /PRNewswire-FirstCall/ -- Genco Shipping & Trading Limited today issued the following statement:
On May 2, 2007, Genco Shipping & Trading Limited acquired 4,440,900 shares of the capital stock of Jinhui Shipping and Transportation Limited. Jinhui Shipping and Transportation Limited is a drybulk shipping owner and operator focused on the Supramax segment of drybulk shipping.
Following the acquisition, Genco has a total holding of 8,571,900 of such shares, equaling 10.2 of the outstanding shares and votes of Jinhui's capital stock. Genco may purchase additional shares of Jinhui's capital stock or dispose of any and all shares of ...