Navios merges to form shipowning giant on the NY Stock Exchange

Greek shipowner Navios is merging its dry bulk and tanker companies to create the largest New York-listed shipowner with a fleet of 140 vessels.

Angeliki Frangou, CEO, Navios | Photo: PR-FOTO

Greek Navios is merging two shipowning entities to form a company set to become the largest shipowner listed on the New York Stock Exchange.

The merger of Navios Maritime Partners, which owns and operates dry bulk vessels, and Navios Maritime Acquisition Corp, which focuses on tanker vessels, will create a new company with a fleet comprising 140 vessels, including a number of owned container vessels, writes Navios in a stock exchange announcement concerning the merger, which is a share-for-share transaction.

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