UK-based gas shipping company Navigator Holdings has concluded its previously announced merger with the Ultragas fleet and business activities.
In April, Navigator signed a non-binding letter of intent with Naviera Ultranav Limitada (Ultranav) for the merger.
This deal combines two liquefied petroleum gas (LPG) carrier specialists with a joint fleet of 56 ships.
Navigator issued almost 21.2 million new shares of its common stock to Ultranav at $16.82 apiece in consideration for the vessels.
It also...
https://www.ship-technology.com/news/navigator-holdings-ultragas/