Euroseas Ltd. (ESEA) announced that the company has executed definitive documentation and entered into a joint venture with companies managed by Eton Park Capital Management, L.P. and an affiliate of Rhone Capital III L.P. to form Euromar LLC, a Marshall Islands limited liability company.
As per the terms of the Joint Venture, Euroseas will invest up to $25 million, while Eton Park and Rhone will each invest up to $75 million for a total of $175 million, with each holding a proportionate ownership interest in Euromar.
Euroseas will also receive options in Euromar which are triggered if certain performance milestones are achieved. Euromar will be managed by a board of six directors, composed of two directors appointed by each of Euroseas, Eton Park and Rhone.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.