WL Ross and Co. Agrees to Sell Stake in Navigator Holdings
Navigator Holdings Operates World’s Largest Fleet of Handysize Liquified Gas Carriers
In a deal worth $197m, the BW Group will acquire the stake at a price of $9 per share, reports PR Newswire.
Hal Malone, head of transportation at WL Ross, says: “Navigator Holdings has been an industry leader since we made the initial investment. We think the company’s future is bright, and this long-term investment from BW Group will position the Company to realize its potential.”
The handysize fleet consists of 38 liquefied gas carriers, of which 14 are ethylene and ethane capable. Navigator Holdings are in the process of expanding the fleet to include more mid-sized vessels, which will make it a real industry front-runner in the gas freight trade.
