NAP - Navios Maritime Acquisition Corp.: Down 40% Since Merger. Why?
Navios Maritime Acquisition Corporation (NYSE:NNA) is a financially troubled company that owns a fleet of VLCC crude tankers and LR and MR product tankers. It is a 44.2% owned subsidiary of Navios Maritime Holdings, Inc. (NYSE:NM), and an affiliate of Navios Maritime Partners LP (NYSE:NMM) and its subsidiary Navios Maritime Containers LP (NMCI). It is an affiliate and joint venture partner in Navios Europe I and II.
Background
NNA recently completed a merger, more properly a buy-in of the minority common units, of Navios Maritime Midstream Partners