MONACO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Navios Maritime Containers L.P. (“Navios Containers”) (NASDAQ: NMCI), an owner and operator of container vessels, announced today that its board of directors has received a proposal from Navios Maritime Partners L.P. (“Navios Partners”) (NYSE:NMM) pursuant to which Navios Partners would acquire the outstanding common units of Navios Containers not already owned by Navios Partners.
Subject to negotiation and execution of a definitive agreement, Navios Partners is proposing to issue in a merger transaction 0.37 of a common unit of Navios Partners for each outstanding common unit of Navios Containers. This exchange rate represents a value of $2.48 per common unit of Navios Containers.
The proposed transaction is subject to the negotiation and execution of a definitive agreement, approval of the board of directors of Navios Partners and the necessary approvals in accordance with Navios Containers’ limited partnership agreement. The consummation of the proposed transaction would be subject to customary closing conditions. There can be no assurance that any such approvals will be forthcoming, that a definitive agreement will be executed, or that any transaction will be consummated.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities. This communication is not a substitute for any documents that may be filed with the Securities and Exchange Commission or sent to equity holders in connection with the proposed transaction. Equity holders are urged to read those documents, which will contain important information.
About Navios Maritime Containers L.P.
Navios Maritime Containers L.P. is a growth-oriented international owner and operator of containerships. For more information, please visit our website at www.navios-containers.com.
Advisory on Forward-Looking Information and Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and expectations. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect” “pending” and similar expressions identify forward-looking statements. Such statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition, there is uncertainty about the spread of the COVID-19 virus and the impact it may have on the Company’s operations, the demand for the Company’s services, products, global supply chains and economic activity in general. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by the Company with the Securities and Exchange Commission. The Company encourages you to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the Securities and Exchange Commission. Statements contained in this current press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not assume any obligation to update these forward-looking statements, other than as required by law.
Navios Maritime Containers L.P.