The long, slow withdrawal of shipping’s most prominent private equity investor is continuing with another major sale of shares in a listed dry bulk owner.
This time it is Greece’s Star Bulk Carriers that is buying back 10m shares from Oaktree Capital Management at $18.50 each, for a total outlay of $185m, the owner announced on Friday.
The Star Bulk buyback comes three months after another New York-listed dry owner, Eagle Bulk Shipping of Connecticut, splashed out $219m to buy Oaktree’s entire 28% stake in the company.
