Apollo Management is the investor behind a huge sale of 3.5m shares in Genco Shipping & Trading on Wednesday in New York, TradeWinds has learned.
Given that Apollo employs Genco board chairman Arthur Regan, the divestment is likely to have interesting consequences going forward.
As TradeWinds reported on Wednesday, a huge sale of shares by a party then unknown was just the latest movement by Genco's key private equity shareholders out of the stock after many years of support.
