Apr 15 2021 Navigator Holdings Ltd. (“Navigator”) announced the signing of a non-binding Letter of Intent (the “Letter of Intent”) with Naviera Ultranav Limitada (“Ultranav”) to merge Ultragas ApS’ (“Ultragas”) fleet and business activities with Navigator. The transaction would unite two leading gas shipping companies with similar culture and mindset and is expected to enhance Navigator’s safe, reliable, energy and environmentally efficient, marine transport services. The combined fleet would total 56 vessels, which would enhance Navigator’s capability to provide flexibility and support to its customers. It is expected that Navigator would issue approximately 21.2 million new shares of its common stock to Ultranav, and assume Ultragas’ net debt of approximately $197 million, as well as its net working capital. The combined entity would have an aggregate net asset value of approximately $1.3 billion, based primarily upon
Tanker Operator Navigator Holdings Ltd and Ultragas ApS to merge fleets & businesses tankeroperator.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tankeroperator.com Daily Mail and Mail on Sunday newspapers.
Navigator Holdings Ltd and Ultragas ApS To Merge Fleets and Businesses
Navigator Holdings Ltd. (“Navigator”) (NYSE: NVGS), today announced the signing of a non-binding Letter of Intent (the “Letter of Intent”) with Naviera Ultranav Limitada (“Ultranav”) to merge Ultragas ApS’ (“Ultragas”) fleet and business activities with Navigator. The transaction would unite two leading gas shipping companies with similar culture and mindset and is expected to enhance Navigator’s safe, reliable, energy and environmentally efficient, marine transport services. The combined fleet would total 56 vessels, which would enhance Navigator’s capability to provide flexibility and support to its customers.
It is expected that Navigator would issue approximately 21.2 million new shares of its common stock to Ultranav, and assume Ultragas’ net debt of approximately $197 million, as well as its net working capital. The combined entity would have an aggregate net asset value of approxim
Navigator Holdings Ltd and Ultragas ApS To Merge Fleets and Businesses prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.