Navios Acquisition, Navios Midstream Wrap Up Merger Deal(marine crane manufacturer;offshore crane manufacturer)

- Oct 09, 2018-

Under the deal, Navios Acquisition will acquire all of the publicly held units of Navios Midstream in exchange for shares.

The transaction is expected to simplify the capital and organizational structure, increase trading liquidity and float of the Navios Acquisition common stock, enhance access to the capital markets, enhance the credit profile and allow cash retention to support self-funded growth.

It would also build scale through a larger asset base that is capable of generating increased profitability, create significant savings in public company costs, reduce cost of capital etc.

Under the terms of the transaction, public unitholders of Navios Midstream may exchange each Navios Midstream common unit for either 6.292 newly issued shares of Navios Acquisition common stock or 1.0 share of a newly issued series of convertible participating preferred stock of Navios Acquisition.

Each share of preferred stock will be convertible by its holder into 5.1 shares of Navios Acquisition common stock at any time beginning six months after closing of the transaction, the company informed.

The transaction is expected to close around December 2018.

Furthermore, Navios Acquisition said that its Board of Directors approved a 1-for-15 reverse stock split of its issued and outstanding shares of common stock. The reverse stock split is subject to stockholder approval, which Navios Acquisition intends to seek at a special meeting of its stockholders scheduled to be held in November 2018. The reverse stock split is expected to be effected before the closing of the transaction.(marine crane manufacturer;offshore crane manufacturer)



The crane is installed with a rolled steel pedestal for bolting or welding to deck with a height of OUCO standard and pedestal diameter is depend on the SWL of the crane. The standard SB crane will supply with an operator platform. Operator cabin is optional.

The crane and all it associated components / equipment shall be designed in accordance to any leading classification societies which is upon request. The crane shall be tested and adjusted ready for installation by welding or bolting to vessel deck. Power connection shall be provided for electrical supply through integrated electrical slip rings.

 SB series crane: End User Advantages

1. Compact design 
2. Small footprint
3. Delivered as one complete unit ready for installation to vessels
4. Easy access for periodic maintenance, service and repair
5.24 hours after sales searvices support. 

Standard equipment

#  360 C* continuous rotation.

#  -10 C*----+45 C* working temperature.

#  certified A36 & S690 steel structure.

#  pedestal ready for mounting or weld to vessel main structure .

#  stainless steel grease nipples.

#  precise step less speed control.

#  simultaneous operations of 2 or more function.

#  emergency for hydraulic stop device.

#  visual and audible warning alarm

 Optional equipment
#  lower temperature package up to -40 C*.
#  certification for personal lifting.
#  wireless romote control
#  operator cabin with AC and heating.
#  ATEX package and certification.
#  man riding winch.
#  centralized grease system.
#  multiple setting of load limiting system.
#  automatic overload protection system .
#  warning and working lights.
#  load indicator system.
#  other upon request. 

(marine crane manufacturer;offshore crane manufacturer)