Costamare (CMRE) early Thursday disclosed its plan to spin off its dry bulk shipping business into a standalone, publicly traded company.
Following the separation of Costamare Bulkers Holdings, Costamare will continue its global shipping containers and vessels business along with its Neptune Maritime Leasing unit.
Shares of Costamare Bulkers Holdings are expected to trade on the New York Stock Exchange.
Costamare said while no definitive decision has been made, it expects to complete the spinoff transaction this year through a pro-rata distribution of shares, subject to regulatory and final board approvals and other conditions.
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