WL Ross Takes Majority Stake in Navigator

Press Release
Thursday, October 18, 2012

WL Ross & Co. completes purchase of 4.4 million common shares of Navigator Holdings Ltd. owned by Lehman Brothers Inc.

This transaction was approved by Bankruptcy Judge James M. Peck of the Bankruptcy Court in the Southern District of New York overseeing LBI's liquidation in connection with LBI Trustee James W. Giddens ' role in maximizing value for the shares for the benefit of customers and general creditors.

The purchase brings WL Ross' total stake in Navigator to over 50%.  As part of the transaction, WL Ross agreed with Navigator to various limitations, including that a majority of the Navigator Board of Directors will continue to be independent directors.

Navigator Holdings Ltd. provides international seaborne transportation services to producers, traders and consumers of liquefied petroleum gas, petrochemical gases and ammonia.  The company is the leading participant in the handy-sized LPG sector, operating a versatile fleet of 14 high quality, semi-refrigerated gas carriers, representing approximately 16% of the fleet capacity in its chosen sector.

Founded by legendary investor Wilbur Ross, Jr. , Wilbur Ross & Co. is an investment management company with international interests.
 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Maritime NZ Oil Spill Response Review: Submissions

Maritime New Zealand (MNZ) says it invites submissions on its draft updated New Zealand Marine Oil Spill Response Strategy 2014 (the draft Strategy). The draft Strategy, (available at http://bit.

Thai Resort Owners Sue State Owned Company for Oil Spill

Business owners on Koh Samet island are suing a state-owned petroleum enterprise for the oil spill that polluted the resort island's beaches last year. More than 50,

Nigerian Piracy Threatens UK Interests: New Report

The UK economy is heavily exposed to lawlessness off the coast of Nigeria, a new report published today by the UK Chamber of Shipping says. The report found that almost all of the UK’s annual £6.

Mergers & Acquisitions

Saab Completes Acquisition of TKMS (Kockums)

Defence and security company Saab's acquisition of the Swedish shipyard Thyssen Krupp Marine Systems (TKMS, formerly Kockums) has now been completed. The acquisition

Semco and PV Join Forces for Rig Upgrade

Semco Maritime and PetroVietnam Marine Shipyard join forces to establish high class rig upgrade player in South East Asia - Vung Tau Rig Services. The initiative

Kito Americas Acquires Peerless Industrial

Kito Americas, Inc. announced today that the company has entered into a stock purchase agreement to acquire Peerless Industrial Group from Westview Capital Partners II, L.

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1707 sec (6 req/sec)