If a bankruptcy court in Manhattan approves the transaction WL Ross & Co’s stake in the LPG-carrier owner will top 50% after picking up another 4.4 million common shares.
"We see substantial opportunities in the global transportation industry, particularly rail and marine transport," Ross told investors in a statement Friday.
"Navigator is a leader in the handy-sized shipping segment, which has excellent fundamentals and a positive long-term outlook as global shifts in demand for liquefied petroleum gas and other petrochemicals increase opportunities for efficient, flexible marine transportation providers.”
WL
