Angeliki Frangou’s Navios Maritime Partners (Navios Partners) has entered into a definitive merger agreement to acquire Navios Containers, having submitted an initial takeover offer in November 2020.
Navios Partners will issue 0.39 shares for each outstanding share of Navios Containers in the transaction representing a significant premium.
The transaction is expected to close in the first half of 2021, and Navios says the deal will simplify the structure of the company, create significant savings and build scale through a larger, diversified asset base capable of generating increased earnings capacity.
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.