Castor Maritime subsidiary agrees to buy 41% stake in Marlow Navigation for $126 million
CTRM•CTRM•CTRM•CTRM•A majority-owned Castor Maritime subsidiary agreed to acquire a 41% stake in Marlow Navigation for approximately $126 million, comprising $97 million in cash and $29 million in new shares. Completion is expected in early 2027, subject to approvals and customary closing conditions.
Castor Maritime’s majority-owned subsidiary MPC Oceanic Group agreed on November 4, 2026, to acquire a 41% stake in Marlow Navigation. The consideration comprises approximately $97 million in cash and $29 million in newly issued shares priced at €7 each; Marlow shareholders would receive approximately 9% ownership in MPC Oceanic Group.
One-third of the cash component will come from existing cash resources, with the remaining two-thirds funded through debt. Completion is expected in early 2027, subject to regulatory and antitrust approvals and customary closing conditions.
