Navios Maritime Acquisition Corporation (“Navios Acquisition”), an owner and operator of tanker vessels, announced the agreement to acquire five product tankers in liquidation of Navios Europe I Inc, the company said in its release.
On November 22, 2019, an agreement was reached to liquidate Navios Europe I. As of September 30, 2019, Navios Acquisition had a receivable of $32.3 million from Navios Europe I. This receivable along with debt financing will be used to finance the Acquisition. The agreement is subject to definitive documentation which is expected to be completed by the end of 2019.
About Navios Maritime Acquisition Corporation
Navios Acquisition is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.