Diana Shipping Trims Genco Stake Below 10% in Ongoing Divestment
Greek dry bulk owner Diana Shipping has reduced its holding in Genco Shipping & Trading below the 10% threshold following its abandoned takeover attempt.
Diana Shipping has reduced its equity position in rival dry bulk operator Genco Shipping & Trading to below the 10% threshold, continuing to unwind its holding following its abandoned acquisition bid.
According to a fresh regulatory disclosure submitted to the US Securities and Exchange Commission, the Athens-based shipowner offloaded an additional 275,000 Genco shares across transactions executed on September 1 and September 2.
The combined share sales generated gross proceeds of approximately $7.26 million. The transactions included a disposal of 125,000 shares as part of the broader sell-down.
The divestment marks a swift reduction of Diana's position in the New York-listed bulker owner, coming in the wake of the collapse of its takeover attempt last month.
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