Greek shipping group Navios has sealed a deal with debtors in German HSH Nordbank to acquire 14 vessels facing serious risks of insolvency, says Navios in a statement. The two parties announced the agreement in April, and the agreement has now been finalized. This represents the second transaction since 2013.
"We are pleased to announce a second transaction with HSH where we are acquiring vessels at historically low values and with favorable economics that are better than the first transaction,"says Navios CEO Angeliki Frangou in the statement.
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