Pangaea Logistics Solutions Purchases Remaining 50% of Nordic Bulk Partners
October 7, 2024
Pangaea Logistics Solutions Ltd. entered into a definitive agreement to buy the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners LLC, from HS Nordic LLC for $17.2 million in cash. The deal will give Pangaea 100% ownership of Nordic Bulk Partners’ ice class dry bulk vessel fleet and is expected to close by November 1, 2024 subject to customary conditions.
- Buyers
- Pangaea Logistics Solutions Ltd.
- Targets
- Nordic Bulk Partners LLC
- Sellers
- HS Nordic LLC
- Industry
- Transportation
- Location
- Rhode Island, United States
- Transaction Type
- Buyout
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