Hong Kong-based ship owner and charterer Uni-Asia Holdings Limited has entered into four agreements with its largest shareholder Yamasa Co., Ltd.,to buy four newbuilding Handysize bulk carriers.
Uni-Asia and Yamasa have agreed to buy shares of four new joint investment companies: Stella Bulkship S.A., Tiara Bulkship S.A., Unicorn Bulkship S.A, and Victoria Bulkship S.A. for the purpose of acquiring four bulkers. Uni-Asia and Yamasa are now in the process of acquiring the vessels through the new companies.
Each of the four companies was incorporated on July 10, 2015 in Panama. Uni-Asia and Yamasa will each hold 18% and 82% shareholding interest respectively in each of the new companies, with the acquisition of the shares of the newly established companies expected to be completed on or about the end of August 2015.
Yamasa has a deemed shareholding interest of 33.46% in Uni-Asia.