Navios Maritime Holdings Inc. Announces Completion of Acquisition by N Logistics Holdings Corporation

Navios Maritime Holdings Inc. and N Logistics Holdings Corporation, a company affiliated with the Company’s Chairwoman and Chief Executive Officer, Angeliki Frangou, announced today the completion of the transaction contemplated by the previously announced Agreement and Plan of Merger (the “Merger Agreement”), dated as of October 22, 2023, pursuant to which NLHC acquired all of the outstanding shares of common stock, $0.0001 par value, of the Company not already owned by NLHC (“Common Shares”) for $2.28 per share in cash, without interest (the “Merger”).

The closing of the Merger follows a special meeting of the Company’s stockholders held on December 13, 2023, at which the Company’s stockholders voted in favor of the proposal to authorize and approve the Merger Agreement, and the transactions contemplated thereby, including the Merger. In connection with the completion of the Merger, the Common Shares will cease to trade on the New York Stock Exchange and will be delisted.

Advisors

Latham & Watkins LLP acted as legal advisor and Jefferies LLC acted as financial advisor to the special committee of the Company’s Board of Directors, consisting solely of independent and disinterested directors. Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor and S. Goldman Advisors LLC acted as financial advisor to NLHC.
Source: Navios Maritime Holdings Inc.