NMCI - Navios Maritime Containers receives unit holders approval for Navios Partners merger

Navios Maritime Containers (NMCI) announced that at its Special Meeting of Limited Partners, the Navios Containers common unit holders approved the merger.Post the merger, Navios Containers will become a wholly-owned subsidiary of Navios Partners.On the effective time of the merger which is expected to be Mar.31, each outstanding unit representing limited partner interests in Navios Containers, other than Navios Partners, Navios Containers and their respective subsidiaries (Public Unitholders), will be cancelled and automatically converted into the right to receive 0.39 of a common unit representing limited partner interests in Navios Partners.Based on Mar.23 closing price, Public unitholders would be provided with exchange ratio of $9.65/common unit of Navios Containers indicating a premium of 346.9% to Navios Containers' closing price as of Nov.13,2020 and 135.4% premium from Dec.31, 2020.In premarket trading, NMM and NMCI shares trading 5% and 3.2% high respectively.

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Navios Maritime Containers receives unit holders approval for Navios Partners merger