Navios Maritime Partners’ Merger with Navios Maritime Acquisition Company

Latham & Watkins advised the Special Committee of Navios Acquisition, while Fried, Frank, Harris, Shriver & Jacobson advised Navios Partners on the deal.

Navios Maritime Partners announced its merger with Navios Maritime Acquisition Company. The transaction, which will create the largest US publicly listed shipping company, has an enterprise value of approximately US$2.25 billion. The company will be led by the existing board of directors of Navios Partners. The transaction is expected to close in the fourth quarter of 2021.

The current value of the combined company’s vessels is estimated at $4.2 billion based upon the average of publicly available broker reports. With a $1.6 billion pipeline of contracted revenue coupled with about 47,634 available days in 2022, the combined fleet is well-positioned to take advantage of the healthy dry cargo markets as well as any future upturn in the tanker market.

Pareto Securities AS acted as financial advisor to the Special Committee of Navios Acquisition. Thomson Hine LLP acted as legal advisor to Navios Acquisition. S. Goldman Advisors LLC acted as financial advisors to Navios Partners.

Navios Maritime Partners L.P. (NYSE: NMM) is a publicly traded master limited partnership which owns and operates dry cargo vessels. 

Navios Acquisition (NYSE: NNA) is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. 

The Fried Frank team was led by corporate partner Philip Richter (Picture) and included corporate partners Ashar Qureshi and Mark Hayek; antitrust and competition partner Tobias Caspary; litigation partner Israel David; tax partner Alan S. Kaden; corporate special counsel Chris Mathiesen; litigation special counsel Justin J. Santolli; corporate associates Karina Maas, Nina Marot, Brett T. Masters, R. Kirkie Maswoswe, Juliette N. Rafael, Tristan Schmidt, and Benjamin Whitman; antitrust and competition associates Annalie Grogan and Neda Moussavi; tax associate Karen Li; corporate law clerks Robert A. Dominiak and Nathan Jablow; antitrust and competition law clerk Harrisson C. Kummer; and tax law clerk Michael Stepan.

Involved fees earner: Tobias Caspary – Fried Frank Harris Shriver & Jacobson; Israel David – Fried Frank Harris Shriver & Jacobson; Annalie Grogan – Fried Frank Harris Shriver & Jacobson; Mark Hayek – Fried Frank Harris Shriver & Jacobson; Alan Kaden – Fried Frank Harris Shriver & Jacobson; Karen Li – Fried Frank Harris Shriver & Jacobson; Karina Maas – Fried Frank Harris Shriver & Jacobson; Nina Marot – Fried Frank Harris Shriver & Jacobson; Brett Masters – Fried Frank Harris Shriver & Jacobson; R. Kirkie Maswoswe – Fried Frank Harris Shriver & Jacobson; Chris Mathiesen – Fried Frank Harris Shriver & Jacobson; Neda Moussavi – Fried Frank Harris Shriver & Jacobson; Ashar Qureshi – Fried Frank Harris Shriver & Jacobson; Juliette Rafael – Fried Frank Harris Shriver & Jacobson; Philip Richter – Fried Frank Harris Shriver & Jacobson; Justin Santolli – Fried Frank Harris Shriver & Jacobson; Tristan Schmidt – Fried Frank Harris Shriver & Jacobson; Benjamin Whitman – Fried Frank Harris Shriver & Jacobson;

Law Firms: Fried Frank Harris Shriver & Jacobson;

Clients: Navios Maritime Partners;

Martina Bellini

Author: Martina Bellini