http://www.marine-money.com The Ship Finance Publication Of Record Mon, 16 Jan 2012 04:04:51 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.marine-money.com/archive/transformed-2 http://www.marine-money.com/archive/transformed-2#comments Thu, 12 May 2011 15:43:14 +0000 marinemoney http://www.marine-money.com/?p=10323 http://www.marine-money.com/archive/transformed-2/feed 0 http://www.marine-money.com/archive/transformed http://www.marine-money.com/archive/transformed#comments Thu, 01 Jul 2010 18:59:27 +0000 marinemoney http://www.marine-money.com/?p=9362 http://www.marine-money.com/archive/transformed/feed 0 http://www.marine-money.com/archive/denouement http://www.marine-money.com/archive/denouement#comments Thu, 24 Sep 2009 18:30:52 +0000 carisk http://marine-money.com/?p=6313 Aries Maritime Transport Limited (“Aries”) story begins anew. Last week, Aries entered into a securities purchase agreement with Grandunion Inc., a company controlled by Michail Zolotas and Nicholas Fistes, pursuant to which the company has agreed to acquire three capsize bulkcarriers, with an approximate net asset value of $36 million in exchange for 18,977,778 shares. A description of the vessels being acquired is shown herein. In an ancillary transaction, Rocket Marine Inc., a company controlled by Mons Bolin and Captain Gabriel Petridis, the current principals of Aries, agreed to enter into a voting agreement with Grandunion in exchange]]> http://www.marine-money.com/archive/denouement/feed 0 http://www.marine-money.com/archive/a-grand-union http://www.marine-money.com/archive/a-grand-union#comments Thu, 02 Jul 2009 16:46:37 +0000 carisk http://marine-money.com/?p=6086 Aries Maritime announced that it had entered into a letter of intent with Grandunion Inc, a company controlled by Michael Zolotas and Nicholas Fistes, that contemplates the acquisition by Aries of 3 Capesize vessels, with an approximate net asset value of $36 million, in exchange for ~16 million newly issued shares and a change in control of Aries’ board. Based upon a share count of 29 million shares, the new owners will control ~35.5% while the ownership interest of the company, affiliated with Messrs Bolin and Petridis, will have it’s interest diluted to ~ 33.1%. “The]]> http://www.marine-money.com/archive/a-grand-union/feed 0 http://www.marine-money.com/archive/another-spac-finds-a-target http://www.marine-money.com/archive/another-spac-finds-a-target#comments Thu, 11 Sep 2008 20:02:28 +0000 carisk http://marine-money.com/?p=4789 Tailwind Financial Inc. (“Tailwind”) announced that it had signed a letter of intent with GrandUnion Inc. (“GrandUnion”) to acquire 20 drybulk vessels, of approximately 2 million DWT, including 9 newbuildings to be delivered in 2010 and 2011. The 11 on the water vessels are valued in excess of $600 million and are expected to generate EBITDA in excess of $113 million for 2009. The surviving company will be managed by Nicholas Fistes and Michael Zolotas, the principals of GrandUnion and Alan Shaw. Both Messrs. Fistes and Zolotas have extensive shipping experience. The former will serve as]]> http://www.marine-money.com/archive/another-spac-finds-a-target/feed 0