The next shoe to drop in the dramatic revamp of Angeliki Frangou’s Navios Group of companies will be a $100m authorisation for the repurchase of shares, sources familiar with the company said on Wednesday.
The buyback plan, expected to be announced with Navios Partners’ earnings on Thursday, may give comfort to investors who have complained about the shipowner’s unwillingness to increase its shareholder distribution or dividend in proportion to its profits.
