The dry bulk company Genco Shipping is merging with its subsidiary Baltic Trading, which is listed in New York, says Genco in a stock exchange announcement
The merger will be carried out in a share-for-share transaction and the previously bankrupt Genco Shipping & Trading Limited, led by Greek Peter C. Georgiopoulos, who is already manager of Baltic Trading, will afterward control a fleet of 70 dry bulk vessels, according to the announcement.
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