Castor Maritime announces acquisition of majority stake in MPC Munchmeyer

Castor Maritime (CTRM) announces that on December 12, 2024, it entered, through a wholly owned subsidiary, into an Share Purchase Agreement, SPA, with MPC Munchmeyer Petersen & Co. for the acquisition of 26,116,378 shares representing 74.09% of the shares of the Frankfurt-listed investment and asset manager MPC Munchmeyer Petersen Capital AG. The acquisition price of the shares has been agreed at a price of EUR 7.00 per share, which is equal to an aggregate cost of EUR 182.8 million payable in cash, approx. USD 192.6 million equivalent, excluding any transaction-related costs. As part of the transaction Castor secured a $100,000,000 new senior term loan facility and $50,000,000 proceeds from the issuance of 50,000 additional Series D cumulative convertible preferred shares, both from Toro Corp. (TORO), an entity controlled by Petros Panagiotidis, Castor’s Chairman and CEO.