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V.Ships and Navalmar gain control of MC Shipping.
(From Lloyds List)
Byline: Navalmar acquires more shares in LPG and boxship operator to take combined holding to over 50%, writes Tony Gray
V.SHIPS and Navalmar have officially gained control of MC Shipping, the American Stock Exchange listed liquefied petroleum gas carrier and containership operator.
Navalmar has acquired further shares in MC Shipping which takes the combined shareholding of the partners, who vote in concert, above 50%.
As a result of this change of control, MC Shipping is obliged to make an offer to purchase its outstanding bonds.
This should not prove too onerous for the company, which has long been repurchasing …
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