Navios Maritime Holdings Inc. Announces Acquisition of Kleimar N.V.
2/5/2007
Our client Navios Maritime Holdings Inc. recently completed the following transaction:
Navios Maritime Holdings Inc. Announces Acquisition of Kleimar N.V.
PIRAEUS, Greece, Feb 05, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Navios Maritime Holdings Inc. ("Navios") (Nasdaq: BULK, BULKU, BULKW), a large, global, vertically integrated seaborne shipping company, announced today that it has acquired all of the outstanding share capital of Kleimar N.V. ("Kleimar") for cash consideration of $165.6 million, subject to certain cash adjustments. It is anticipated that the net cash consideration paid for the shares would be approximately $140.3 million, after taking into account the cash retained on Kleimar's balance sheet and certain proceeds from an asset sale triggered by the change in control of Kleimar. Kliemar also has outstanding debt of approximately $21.3 million.
