Navios Maritime Holdings Inc. Announces Receipt of Buyout Offer of $1.84 Per Common Share

Rhea-AI Summary

Navios Maritime Holdings Inc. receives non-binding proposal from N Shipmanagement Acquisition Corp. to acquire outstanding shares for $1.84 per share.

Positive

• Proposal to acquire shares at $1.84 per share

Negative

• Proposal is non-binding and subject to negotiation and execution of definitive documentation.

GRAND CAYMAN, Cayman Islands, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”) (NYSE: NM) today announced that its board of directors received an unsolicited non-binding proposal from N Shipmanagement Acquisition Corp. (“NSC”) to acquire all of the outstanding shares not already beneficially owned by NSC and its affiliates for $1.84 in cash per common share.

The Company’s board of directors has authorized a Special Committee, consisting solely of independent and disinterested directors, to retain advisors and to review, evaluate, negotiate and accept or reject the proposed transaction. The proposal is non-binding and is subject to the negotiation and execution of mutually acceptable definitive documentation. There can be no assurance that any definitive documentation will be executed or that any transaction will materialize.

About Navios Maritime Holdings Inc.

Navios Maritime Holdings Inc. (NYSE: NM) owns a controlling equity stake in Navios South American Logistics Inc., one of the largest infrastructure and logistics companies in the Hidrovia region of South America and an interest in Navios Maritime Partners L.P., a US publicly listed shipping company which owns and operates dry cargo and tanker vessels. For more information about Navios Holdings, please visit our website: www.navios.com.

Contact:

Navios Maritime Holdings Inc.
+1-345-232-3067
+1.212.906.8643
investors@navios.com