Navios Maritime Acquisition Corporation (Navios Acquisition), an owner and operator of tanker vessels, announced today that it agreed to acquire three MR2 product tankers for an aggregate purchase price of approximately $98 million.
Angeliki Frangou, Chairman and CEO , commented:
“We have been able to put the net proceeds of our recent equity raising to good work, by acquiring vessels that were available at favorable prices. We anticipate chartering these vessels out shortly and will update investors once we secure charters that we find attractive in the current market.”
Navios Acquisition is expected to finance the acquisitions with cash on its balance sheet and 60% bank debt consistent with its existing credit facilities.
Press Release, April 3, 2013