Through the $120 million deal, DryShips will acquire 98% of Nautilus, along with the offshore services company's four oil spill recovery vessels and two platform supply vessels.
DryShips will pay $87 million for the Nautilus stake. It will also assume $33 million in debt.
The acquisition will be partly financed by a new loan facility of $50 million from an entity controlled by DryShips owner George Economou.
