Navios Maritime Holdings Inc. Announces Completion of Acquisition by N Logistics Holdings Corporation
December 14 2023 - 8:10AM
Navios Maritime Holdings Inc. (the “Company”) (NYSE: NM) and N
Logistics Holdings Corporation (“NLHC”), a company affiliated with
the Company’s Chairwoman and Chief Executive Officer, Angeliki
Frangou, announced today the completion of the transaction
contemplated by the previously announced Agreement and Plan of
Merger (the “Merger Agreement”), dated as of October 22, 2023,
pursuant to which NLHC acquired all of the outstanding shares of
common stock, $0.0001 par value, of the Company not already owned
by NLHC (“Common Shares”) for $2.28 per share in cash, without
interest (the “Merger”).
The closing of the Merger follows a special
meeting of the Company’s stockholders held on December 13, 2023, at
which the Company’s stockholders voted in favor of the proposal to
authorize and approve the Merger Agreement, and the transactions
contemplated thereby, including the Merger. In connection with the
completion of the Merger, the Common Shares will cease to trade on
the New York Stock Exchange and will be delisted.
Advisors
Latham & Watkins LLP acted as legal advisor and Jefferies
LLC acted as financial advisor to the special committee of the
Company’s Board of Directors, consisting solely of independent and
disinterested directors. Fried, Frank, Harris, Shriver &
Jacobson LLP acted as legal advisor and S. Goldman Advisors LLC
acted as financial advisor to NLHC.
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NYSE: NM) owns a controlling
equity stake in Navios South American Logistics Inc., one of the
largest infrastructure and logistics companies in the Hidrovia
region of South America and an interest in Navios Maritime Partners
L.P., an international shipping company, listed on the New York
Stock Exchange, that owns and operates dry cargo and tanker
vessels. For more information, please visit our website:
www.navios.com.
Forward-Looking Statements
This communication contains forward-looking statements.
Statements in this communication that are not statements of
historical fact are considered forward-looking statements, which
are usually identified by the use of words such as “anticipates,”
“believes,” “continues,” “could,” “estimates,” “expects,”
“intends,” “may,” “plans,” “potential,” “predicts,” “projects,”
“seeks,” “should,” “will,” and variations of such words or similar
expressions. These forward-looking statements are neither
forecasts, promises nor guarantees, and are based on the current
beliefs of management of the Company as well as assumptions made by
and information currently available to the Company. Such statements
reflect the current views of the Company with respect to future
events and are subject to known and unknown risks, including
business, economic and competitive risks, uncertainties,
contingencies and assumptions about the Company. More details about
these and other risks that may impact the Company’s business are
described under the heading “Risk Factors” in the reports the
Company files with the SEC, including its Annual Report on Form
20-F and Reports on Form 6-K, which are available on the SEC’s
website at www.sec.gov. The Company cautions you not to place undue
reliance on any forward-looking statements, which speak only as of
the date hereof. The Company does not undertake any duty to update
any forward-looking statement or other information in this
communication, except to the extent required by law.
Contact:
Navios Maritime Holdings
Inc.+1-345-232-3067+1.212.906.8643investors@navios.com
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