Navios Maritime Containers Inc. Announces Completion of the Acquisition of 14 Container Vessels
MONACO, Aug. 07, 2017 (GLOBE NEWSWIRE) — Navios Maritime Containers Inc. (“Navios Containers”) (N-OTC:NMCI), a growth vehicle dedicated to the container sector, announced today that it has closed the acquisition of the remaining four container vessels and as a result has completed the acquisition of the entire 14 container vessels fleet (the “Fleet”).
Navios Containers acquired the 14 vessels for a total purchase price of $118.0 million plus certain delivery and other operating costs.
The Fleet was partially financed through two loan facilities of $61.0 million in aggregate, including a previously announced $40.0 million facility, and a recently completed $21.0 million facility.
Following this acquisition, Navios Containers controls a fleet of 14 vessels, totaling 57,100 TEU and the current average age of the fleet is 9.7 years.
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About Navios Maritime Containers Inc.
Navios Maritime Containers Inc. is a growth vehicle dedicated to the container sector of the maritime industry. For more information, please visit our website at www.navios-containers.com.
This press release contains forward-looking statements concerning future events including the financing of the acquisition of the Fleet, the acquisition of the remaining Fleet, the transfer of the Fleet and the benefits of the acquisition of the Fleet; including expected vessel acquisitions and entering into further time charters, as well as expected financial performance of the Fleet. Words such as “may”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates”, and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Containers at the time these statements were made. Although Navios Containers believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Containers. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks relating to the completion of the remaining Fleet’s acquisition on the anticipated timing or at all, the quality of the Fleet and the market for the Fleet vessels, and changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors, as well as general domestic and international political conditions. Navios Containers expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Containers’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Containers makes no prediction or statement about the performance of its common units.
Contact Public & Investor Relations Contact: Navios Maritime Containers Inc. +1.212.906.8648 Investors@navios-containers.com