Castor Maritime Inc, a diversified global shipping company, announces that on December 12, 2024, it entered, through a wholly owned subsidiary, into an Share Purchase Agreement (“SPA”) with MPC Münchmeyer Petersen & Co. GmbH for the acquisition of 26,116,378 shares representing 74.09% of the shares of the Frankfurt-listed investment and asset manager MPC Münchmeyer Petersen Capital AG.

The acquisition price of the shares has been agreed at a price of €7.00 per share, which is equal to an aggregate cost of €182.8 million payable in cash (approx. USD 192.6 million equivalent), excluding any transaction-related costs. As part of the transaction Castor secured a $100,000,000 new senior term loan facility and $50,000,000 proceeds from the issuance of 50,000 additional Series D cumulative convertible preferred shares, both from Toro Corp., an entity controlled by Petros Panagiotidis, Castor’s Chairman and CEO.

The terms of the loan facility and the Series D cumulative preferred shares were approved by the independent and disinterested members of the Boards of Toro and Castor, respectively, following the negotiation and recommendation by special committees of the independent and disinterested directors of the Boards of Toro and Castor, respectively.
The completion of the transaction is expected to take place during December 2024, and is subject to customary conditions for transactions of this type.

Petros Panagiotidis, Chief Executive Officer of the Company, commented:
“Today, Castor announces a strategic investment with the acquisition of the majority stake of MPC Capital. This transaction demonstrates our commitment to further growing our footprint in the shipping space but also diversifying our activities in the fast growing area of energy infrastructure.

Castor as the new anchor sponsor of MPC Capital is aligned with its strategy, targeting continued growth and building on its established track record as an investment manager and operator within maritime and energy infrastructure sectors.“