Castor Completes Acquisition of Majority Stake in MPC Capital
Deal News | Dec 17, 2024 | Globenewswire
In a strategic acquisition, Castor Maritime Inc., a global shipping and energy company, announced it has completed the purchase of a 74.09% stake in MPC Münchmeyer Petersen Capital AG, a Frankfurt-listed investment and asset manager specializing in maritime and energy infrastructure projects. The acquisition, finalized on December 16, 2024, was executed via Castor's wholly owned subsidiary, Thalvora Holdings GmbH. Castor acquired 26,116,378 shares of MPC Capital at €7.00 each, totaling approximately €182.8 million ($192.6 million USD). This move requires a reshuffle in MPC Capital's Supervisory Board, adding Castor’s CEO and Chairman Mr. Petros Panagiotidis and another Castor representative, Mr. Petros Zavakopoulos. The newly acquired company is known for managing €4.8 billion in assets and has founded notable entities such as MPC Container Ships ASA and MPC Energy Solutions NV. This acquisition aligns with Castor's strategies to expand its asset management and investment capabilities within the maritime and energy sectors globally.
Sectors
- Maritime Shipping
- Investment Management
- Energy
Geography
- Cyprus – The location of Castor Maritime Inc.'s headquarters.
- Germany – Home to MPC Capital, where the Frankfurt Stock Exchange is situated.
Industry
- Maritime Shipping – Relevant due to Castor's and MPC Capital's involvement in shipping and vessel management.
- Investment Management – MPC Capital's core business, aligning with Castor's broader strategic interest in asset management.
- Energy – Both companies have investment and management activities in energy infrastructure projects.
Financials
- 192.6 million USD – The purchase price for a 74.09% stake in MPC Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Castor Maritime Inc. | Bidding Company | Company | A diversified global shipping and energy company acquiring a majority stake in MPC Capital. |
| MPC Münchmeyer Petersen Capital AG | Target Company | Company | An investment and asset manager specializing in infrastructure projects within the maritime and energy sectors. |
| Thalvora Holdings GmbH | Acquiring Subsidiary | Company | A wholly owned subsidiary of Castor Maritime responsible for the acquisition. |
| Münchmeyer Petersen & Co. GmbH | Vendor | Company | The seller of the 74.09% stake in MPC Capital to Castor Maritime. |
| Petros Panagiotidis | Incoming Supervisory Board Member | Person | CEO and Chairman of Castor Maritime, joining MPC Capital's Supervisory Board. |
| Petros Zavakopoulos | Incoming Supervisory Board Member | Person | New member joining MPC Capital's Supervisory Board representing Castor Maritime. |