Why would George want to sell off Primelead to DryShips, if it was a good investment? Why not keep it for himself?
But, what do I know. I read the DryShips stock has been going up, again.
DryShips has closed a deal to buy George Economou's stake of its drilling arm, the Nasdaq-listed company said Thursday.
The bulker and offshore drilling owner is paying $330m in cash and shares to buy the 25% stake from its chief executive.
The transaction makes Primelead a wholly-owned DryShips subsidiary.
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International shipping is a strange business.