Petros Panagiotidis-controlled Toro Corp is providing $100m to sister shipowner Castor Maritime as it buys Germany’s MPC Capital.
Toro said the financing is a senior term loan facility secured by 10 of Castor’s bulkers or container ships valued at $235m.
Castor subsidiary Thalvora Holdings agreed a $171m deal to acquire 74% of Hamburg shipping asset manager MPC Capital on Thursday.
