BW Group Buys 39.1% Stake in Navigator Holdings

© Dragec / MarineTraffic.com

© Dragec/ MarineTraffic.com

Private equity company WL Ross & &Co stated it has actually consented to offer its around 39.1% equity rate of interest in ship owner-operator Navigator Holdings to maritime as well as overseas business BW Group at a rate of $9 per share.

“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,” stated Hal Malone, Head of Transportation of WL Ross.

Andreas Sohmen-Pao, Chairman of BW Group, stated “BW is excited to be taking an ownership position in Navigator Holdings, a leading company in its sector, and we look forward to being a supportive shareholder as Navigator continues to pursue its strategic goals.”

Navigator Holdings is the proprietor as well as driver of the globe’s biggest fleet of handysize melted gas providers. Its fleet contains 38 semi- or fully-refrigerated melted gas providers, 14 of which are ethylene as well as ethane qualified.

David Butters, Chairman of Navigator Holdings, stated, “We would like to thank WL Ross for its many years of investment and support of the company and we are pleased and very much look forward to the new support of BW Group as we focus on executing our strategy to drive meaningful long-term growth.”

Source of This New.