The sale of the subisidiary which is expected to close in the 4th quarter of 2012 is part of Seanergy's overall financial restructuring plan. Following the completion of the sale, the overall indebtedness of companies within the Seanergy group will be reduced by approximately $46.7 million.
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is a Marshall Islands corporation with its executive offices in Athens, Greece. The Company is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers.
Upon completion of the BET sale transaction, the Company's fleet will consist of 13 dry-bulk carriers (two Panamax, two Supramax, and nine Handysize vessels) with a total carrying capacity of approximately 499,070 dwt and an average fleet age of 13.3 years.
The Company's common stock trades on the NASDAQ Global Market under the symbol "SHIP."
Seanergy Maritime Corp. press release