Deutsche Bank Reports Vessels Purchase By Navios Partners

Loading...
Loading...
According to Deutsche Bank, Navios Partners
NMM
agreed to purchase two vessels from parent. Deutsche Bank said that after the close on Tuesday, NMM announced it has agreed to purchase two secondhand bulkers from NM (Not Rated) for a total consideration of $130.0 million. “The purchase is expected to be funded with $85 million in cash-onhand, $35 million in a new tranche of NMM's existing credit facility and the issuance of 507,916 common units of NMM ($19.69/unit issuance price). No details on timing for the closing of the transaction were provided in the release, but we would expect the transaction to close before June. We will review our estimates after the close of the transaction and discussions with management.” Navios Partners closed yesterday at $18.98.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst RatingsDeutsche BankIndustrialsMarineNavios Partners
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...