Navios Midstream Partners has officially been folded into Navios Maritime Acquisition, finishing a merger first floated this summer.
The all stock deal between the two Angeliki Frangou-led tanker companies will see Navios Maritime Acquisition bolster its fleet with six more VLCCs. The combined company also touts a simplified corporate structure, larger asset base and better credit profile.
"We believe that the combined entity will be an attractive investment opportunity for investors," Frangou said in a statement.
