Navios Maritime Partners moves to take full ownership of Navios Containers

Angeliki Frangou’s Navios Maritime Partners (Navios Partners) has submitted a proposal to acquire all of the outstanding shares in Navios Containers that it does not already own.

Navios Partners will issue 0.37 shares in Navios Partners for each outstanding share of Navios Containers in a merger transaction. The offer represents a premium of 15% based on the closing prices of the two companies on November 13.

The transaction is still subject to the negotiation and execution of a definitive agreement, as well as the relevant approvals.

Navios Partners operates a fleet of 52 vessels, mostly bulkers, according to the company website. It currently owns 10 containerships, while Navios Containers owns a fleet of 29 containerships with a total capacity of 142,821 teu.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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