Home About UsPublicationsForumsConsultingContact Us
Back to Earlier Search Results New Search Logout

Links

CMA Shipping 2011

Marine Money Forums

Marine Money Asia Week

Freshly Minted Newsletter

Marine Finance Dashboard

Navios Navy Adds Battleships

Irrepressible, the navy known as Navios last week acquired through its tanker subsidiary, Navios Maritime Acquisition (“Acquisition”), a fleet of seven VLCCs from Fred Cheng’s Shinyo International Group Limited. The aggregate purchase price was $587 million and the acquisition was done as a securities purchase agreement primarily to allow for the assumption of debt. The transaction will be financed with bank debt of $453 million, representing approximately 78% of the purchase price, with cash of $123 million (21%) and through the issuance of $11 million of Acquisition’s shares to the seller. In effect, third parties are funding approximately 80% of the purchase price, a remarkable achievement these days.

This is only an excerpt of Navios Navy Adds Battleships

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login

Username
Password
 


Related Archive Files

  • No Related Post

Leave a Reply

You must be logged in to post a comment.

Copyright 2008. Marine Money. All Rights Reserved.