By Dean Seal
Costamare said it plans to spin off its dry-bulk business into a standalone company.
The containerships company said Thursday that the new company is to be called Costamare Bulkers Holdings, an international owner and operator of dry-bulk vessels.
The separate companies will serve as pure-play investment opportunities for different investor bases and have management teams that can focus on their distinct growth opportunities.
The spun-off company is expected to get a listing on the New York Stock Exchange.
Costamare aims to have the spinoff completed this calendar year, subject to regulatory approvals and final approval from Costamare's board.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 27, 2025 08:42 ET (13:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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