Posted at 10:42 a.m., Tuesday, June 26, 2007
Mainland firm to buy Honolulu-based Smith Maritime
Advertiser Staff
K-Sea Transportation Partners LP today said it agreed to acquire Honolulu-based Smith Maritime Ltd. and Seattle-based Sirius Maritime LLC for $205 million in cash and debt.On a combined basis these operations include eleven petroleum tank barges and ten tugboats, which equates to 777,000 barrels of capacity. The transactions are expected to be completed in July or early August, subject to customary closing conditions.
