Kirby Corporation has signed a definitive agreement to acquire the marine transportation fleet of Cenac Marine Services for approximately US$244 million.
Cenac’s fleet of 63 inland tank barges, 34 inland towboats, and two offshore tugs will sail under the Kirby banner following the closing of the acquisition, which is expected to occur late in the first quarter of 2019.
The US$244 million purchase will be made in cash and financed through additional borrowings, Kirby said in a statement.
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