Navios Maritime Holdings has unveiled a plan to spend $20m to buy up the New York-listed company’s high-dividend preferred shares.
The move to deploy capital on scooping up shares comes after the Greek outfit recently completed selling off its bulker fleet in a deal with Navios Maritime Partners that allowed it to strengthen its balance sheet.
The transaction will see Navios Holdings, whose remaining assets are a majority stake in Navios South American Logistics and a 10.3%
