Navios Maritime Holdings Inc. Announces Sale of Ship Management for $20.0 Million and a Five-Year Services Agreement

Navios Maritime Holdings Inc. Announces Sale of Ship Management for $20.0 Million and a Five-Year Services Agreement

  

Fried Frank acted as counsel to N Shipmanagement Acquisition Corporation (NSAC) in its US$20 million acquisition of the ship management division and certain general partnership interests of Navios Maritime Holdings that also includes a five-year services agreement. NSAC received aggregate consideration of US$20 million (including assumption of liabilities) and a five-year service agreement, under which NSAC will provide technical and commercial management services at fixed rates and administrative services, reimbursed at allocable cost. The transaction is now closed.

The Fried Frank team was led by corporate partner Philip Richter and included corporate partners Mark S. Hayek and Shant P. Manoukian, litigation partner Israel David, corporate special counsel David M. McDonald, and corporate associates Evan M. Campbell and Hannah J. Mrakovich.

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