Navios Maritime To Acquire Capesize Vessel For US$31.1 Million

Published: May 09 2017
Deal Summary

Navios Maritime Partners L.P., an owner and operator of drybulk and container vessels, agreed to acquire Capesize vessel for a purchase consideration of US$31.05 million. The transaction represents an estimated EBITDA multiple of 11.94x.

Navios Maritime intends to finance the consideration with cash and bank debt on terms consistent with its existing credit facilities.

The vessel is 2011 South Korean-built Capesize vessel, with dead weight tonnage of 179,016 tons.

Following the completion of the transaction, Navios Maritime will own 35 vessels. The transaction will enable Navios Maritime to expand its fleet of vessels.

The vessel is expected to be delivered by June 2017.

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