The company “Y/KNOT Invest S.A.” informs the investing public that it has reached an agreement for an investment in an Aframax-type vessel, which was built in 2009 at the shipyards of Hyundai Heavy Industries, has a carrying capacity of 105,599 DWT and is owned by the foreign company under the name “The Great Eastern Shipping Co”.
The vessel will be purchased by the newly established company Y/Amethyst Inc, an indirect subsidiary of the Company, for a total consideration of 44,100,000 dollars.
The acquisition will be financed through a combination of own funds, co-investment by Indigo Marine Inc., a direct shareholder of the Company, and bank borrowing.
Specifically, for payment of the purchase price and initial working capital, the Company will contribute to Y/Amethyst Inc through Y/Knot Maritime Inc., its 100% direct subsidiary, the amount of € 12,000,000, while Indigo Marine Inc. will contribute to Y/Amethyst Inc the amount of € 8,000,000. Following this, Y/Knot Maritime Inc.’s participation percentage in Y/Amethyst Inc will amount to 60% and Indigo Marine Inc’s participation percentage to 40%.
The above arrangement is set out in detail in a relevant agreement between Y/Knot Maritime Inc. and Indigo Marine Inc., for which, because Indigo Marine Inc. is a related party to the Company, authorization was granted on 30.06.2026 by the Company’s Board of Directors in accordance with articles 100 and 101 of Law 4548/2018.
It is recalled that during the recent share capital increase of € 22.8 million of the Company, the use of raised funds provided for an amount of up to €11,000,000 for investments in oceangoing shipping vessels and an amount of up to €2,888,000 for working capital.
Regarding bank borrowing, the Company has entered into a preliminary agreement (Indicative Term Sheet) with the London branch of Macquarie Bank Limited for long-term financing in the amount of 23,500,000 dollars.