Home | Business News | Browse by Publication | P | PR Newswire

Navios Maritime Holdings Inc. Announces Acquisition of Kleimar N.V.

Publication: PR Newswire
Publication Date: 05-FEB-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
PIRAEUS, Greece, Feb. 5 /PRNewswire-FirstCall/ -- Navios Maritime Holdings Inc. ("Navios") , a large, global, vertically integrated seaborne shipping company, announced today that it has acquired all of the outstanding share capital of Kleimar N.V. ("Kleimar") for cash consideration of $165.6 million, subject to certain cash adjustments. It is anticipated that the net cash consideration paid for the shares would be approximately $140.3 million, after taking into account the cash retained on Kleimar's balance sheet and certain proceeds from an asset sale triggered by the change in control of Kleimar. Kliemar also has outstanding debt of approximately $21.3 million.

Kleimar is a Belgian maritime transportation company established in 1993. Kleimar has 11 employees and is an owner and operator of capesize and panamax vessels used in transporting cargoes. It...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from PR Newswire
Pay By Touch Names Jeff Amann Chief Administrative Officer and Interim..., February 05, 2007
Wells Fargo to Offer a Reverse Mortgage Product With a Margin Reductio..., February 05, 2007
Anixter's 2007 Broadcast and Entertainment Products Catalog Now Availa..., February 05, 2007
Vocus Announces Record Revenue, Profit and Cash Flow for Fourth Quarte..., February 05, 2007
Mars vs. Venus in Flight: Amadeus Survey Reveals what Stresses the Sex..., February 05, 2007

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.