Costamare To Spin-off Dry Bulk Business Into Standalone Company - Quick Facts

(RTTNews) - Costamare (CMRE) announced intent to spin-off the dry bulk business into a standalone company, Costamare Bulkers Holdings Limited. Costamare Bulkers will hold the owned dry bulk vessels and the CBI operating platform. The planned spin-off will result in two separate, publicly traded companies. Shares of Costamare Bulkers Holdings Limited are expected to be listed on the NYSE.

Costamare Inc. noted that it will remain a global container shipping provider, retaining the owned container vessels and Neptune Maritime Leasing Limited businesses. Costamare Inc. is targeting to complete the spin-off as soon as practicable in the current calendar year.