Marine Link
Thursday, December 8, 2016

WL Ross Invests in Navigator Holdings LTD

November 10, 2011

WL Ross & Co. and Navigator Holdings Ltd. (NVGS) have entered into a definitive agreement for WL Ross to acquire up to 19.4% of Navigator's common stock for a total of US$62.5 million in order to provide additional capital resources for the company's growth program.

 

Up to two designees of WL Ross & Co., including Wilbur Ross, Jr., Chairman of WL Ross & Co., will join the company’s board of directors. “We see very substantial opportunities in the global transportation industry, particularly rail and marine shipping,” said Mr. Ross.  “Navigator is a leader in the handy-sized shipping segment, which has excellent fundamentals and a positive outlook as global shifts in demand for liquefied petroleum gas and other petrochemicals increase opportunities for efficient, flexible marine transportation providers,” Ross said. “WL Ross is a world-class investor, with a great track record and a particular emphasis in transportation,” said David J. Butters, Navigator’s Chairman and Chief Executive Officer.  “We see many promising growth opportunities, and are delighted that Mr. Ross will be joining us as we continue to build what we feel will be a powerful force in the global LPG industry,” Butters said.



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News