Navios Maritime Containers L.P. Receives Merger Proposal from Navios Maritime Partners L.P.
November 16 2020 - 4:15PM
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
StatementsThis 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.
Contact:Navios Maritime Containers
L.P.+1.212.906.8648investors@navios-containers.com
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