Navigator Holdings Signs LOI to Sell 8 Gas Carriers for $183M
Navigator Holdings announced it signed a non-binding letter of intent with Bernhard Schulte and Sloman Neptun Schiffahrts-Aktiengesellschaft for the sale by the company to the buyers of eight gas carriers as well as the company's shareholding in the Unigas International B.V. joint venture, which currently commercially manages the vessels, for an aggregate purchase price of approximately $183M. On completion of the proposed transaction, Navigator Gas will fully exit the Unigas Pool, which will continue to operate with the remaining existing partners, Sloman Neptun and Bernhard Schulte. The proceeds from the proposed transaction are expected to be used for general corporate purposes.
