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

Legal

Iraq to Appeal US Court Decision on Kurdish Oil

The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas.

USCG Shares Safety Tips for Labor Day, Riverfest

Labor Day weekend marks the unofficial end of the boating season and is known as one of the busiest recreational boating weekends on the Ohio River. With approximately 2,

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act   Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined

Mergers & Acquisitions

EOC Takes Full Ownership of OSVs

On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore,

LNG Finalizes Acquisition of Bear Head LNG Project

Liquefied Natural Gas Limited today informed having finalised the acquisition of 100% of Bear Head LNG Corporation (BHLC). This follows the announcement

CEVA Expanding Presence in Southern California

CEVA Logistics, one of the world’s leading supply chain management companies, today announced plans to expand its presence in the San Diego market with a new

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1852 sec (5 req/sec)