Navios Maritime Holdings Inc. Enters Into Agreement for Exclusive Negotiation Rights for Acquisition of Kleimar NV
23 December 2006 - 8:01AM
PR Newswire (US)
PIRAEUS, Greece, Dec. 22 /PRNewswire-FirstCall/ -- Navios Maritime
Holdings Inc. (NASDAQ:BULKNASDAQ:BULKUNASDAQ:BULKW) ("Navios"), a
large, global, vertically integrated seaborne shipping company,
announced today that it has entered into an agreement providing for
an exclusive period to negotiate a definitive agreement to acquire
all of the shares of Kleimar NV (Kleimar). Kleimar is a maritime
transportation company focused primarily on the Capesize sector
with an extensive Contract of Affreightment business transporting
cargo to China. There can be no assurance that the parties will
successfully negotiate and execute a mutually acceptable definitive
agreement. In addition, even if such an agreement is executed, it
is anticipated that closing would be subject to additional
conditions. About Navios Maritime Holdings Inc. Navios Maritime
Holdings Inc. is a large, global, vertically integrated seaborne
shipping company transporting a wide range of drybulk commodities
including iron ore, coal and grain. For over 50 years, Navios has
worked with raw materials producers, agricultural traders and
exporters, industrial end- users, ship owners, and charterers.
Navios also owns and operates a port/storage facility in Uruguay
and has in-house technical ship management expertise. Navios
maintains offices in Piraeus, Greece, South Norwalk, Connecticut
and Montevideo, Uruguay. Navios' stock is listed in the NASDAQ's
National Market System where its Common Shares, Units and Warrants
trade under the symbols "BULK", "BULKU", "BULKW", respectively.
Risks and uncertainties are described in reports filed by Navios
Maritime Holdings Inc. with the United States Securities and
Exchange Commission. Safe Harbor This press release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 about Navios Maritime
Holdings Inc. Forward looking statements are statements that are
not historical facts. Such forward-looking statements, based upon
the current beliefs and expectations of Navios's management, are
subject to risks and uncertainties, which could cause actual
results to differ from the forward looking statements. The
information set forth herein should be read in light of such risks.
Navios does not assume any obligation to update the information
contained in this press release. Public & Investor Relations
Contact: Navios Maritime Holdings Inc. Investor Relations
212-279-8820 DATASOURCE: Navios Maritime Holdings Inc. CONTACT:
Public & Investors - Navios Maritime Holdings Inc., Investor
Relations, +1-212-279-8820,
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