Safe Bulkers, Inc. Announces Agreement For The Acquisition Of One Capesize Class Dry-Bulk Vessel

Apr 12, 2022•over 3 years ago

Acquiring Company

Safe Bulkers

Acquired Company

One Class Dry-bulk Vessel

MonacoSoftware

Description

Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the acquisition of a 2012-built, Chinese, dry-bulk, 181,000 dwt, Capesize class vessel, to be named MV Michalis H, with a scheduled delivery date within May 2022. The vessel will be acquired at a gross purchase price of $30.0 million and will be financed from the cash reserves of the Company.

Company Information

Company

Safe Bulkers

Location

Monaco

About

Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the market in which Safe Bulkers operates, risks associated with operations outside the United States and other factors listed from time to time in Safe Bulkers’ filings with the Securities and Exchange Commission. Safe Bulkers is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed