Meiji Shipping Co., Ltd. (TSE:9115) agreed to acquire an additional 10% stake in Trinity Bulk, S.A. from Mes Shipping Co. Ltd. on July 31, 2020. Under the terms of the transaction, Meiji will acquire an additional 2 shares in Trinity and will hold 12 shares representing 60%. Prior to the transaction, Meiji Shipping Co., Ltd. holds 50%, Itochu Corporation holds 40% stake and Mes Shipping holds 10% stake in Trinity. Trinity reported a total assets of $85 million, sales of $12 million, operating income of $2 million and net income of $12 million in the year ending on December 2019. The transaction was approved by the Board of Directors of Meiji Shipping and is expected to complete on August 3, 2020. Meiji Shipping Co., Ltd. (TSE:9115) completed the acquisition of an additional 10% stake in Trinity Bulk, S.A. from Mes Shipping Co. Ltd. on August 3, 2020.