Fried Frank acted as counsel to Navios Maritime Acquisition Corporation (Navios Acquisition) in its definitive merger agreement under which Navios Acquisition will acquire all of the publicly held units of Navios Midstream Partners L.P. (Navios Midstream). Navios Acquisition is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. Navios Midstream is a publicly traded master limited partnership which owns and operates crude oil tankers under long-term employment contracts. The conflicts committee of the board of directors of Navios Midstream negotiated the transaction on behalf of Navios Midstream and its public unitholders. The transaction was unanimously approved by the Conflicts Committee, the board of directors of Navios Midstream, and the board of directors of Navios Acquisition and is expected to close around December 2018.
The Fried Frank team was led by corporate partner Philip Richter and included corporate partners Mark S. Hayek, Caroline Sandberg, and Joshua Wechsler; tax partner Alan S. Kaden; corporate associates Shanta Chirravuri, Roxanne Lepore, Shant P. Manoukian, and Jake Saifman; and tax associate Ryan L. Conley.