Shares of New York-listed Navios Maritime Acquisition surged 71.9% on Friday, the first day of trading after the announcement of its takeover by another Angeliki Frangou-led company, Navios Maritime Partners.
The all-shares combination creates the largest US-listed shipowner by vessel count and also rescues Navios Acquisition from what had been an impending November maturity deadline for $397.5m in ship mortgage bonds.
