Hunter Maritime to Pay Less for Oskar Wehr Quintet

The Marshall Islands-based Hunter Maritime Acquisition has reduced the purchase price of five Capesize dry bulk carriers, being bought from Germany’s Oskar Wehr, by around USD 6 million.

The company informed that it will be paying USD 133.5 million for the quintet, slightly lower from the initially agreed price of USD 139.4 million.

The vessels in question are MV Charlotte Selmer, MV Greta Selmer, MV Tom Selmer, MV Lene Selmer and MV Hugo Selmer, all of them built by Chinese shipbuilder New Times Shipbuilding.

Additionally, Hunter Maritime Acquisition said that Bocimar Hunter NV, the company’s sponsor, has committed to forfeit, upon the consummation of the acquisition, a number of Class B common shares that it owns, such that the number of Class A common shares that the sponsor will receive would represent no more than 15% of the company’s outstanding Class A common shares.

The sponsor currently owns 20% of the company’s issued and outstanding common shares.

In connection with the acquisition, Hunter Maritime Acquisition is conducting its tender offer, as amended or supplemented to purchase up to 8,233,100 of its Class A common shares for an aggregate price of up to USD 82.3 million.

The tender offer expires on June 2, 2017, unless extended or earlier terminated by the company.