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NVGS-News
NVGS-Events
Navigator Holdings Signs Agreement to Sell Eight Gas Carriers for Approximately $183M
Navigator Holdings announced that it has signed definitive agreements to sell eight gas carriers and its shareholding in the Unigas International joint venture for an aggregate purchase price of approximately $183M. The assets will be sold to Bernhard Schulte Investment Holding and Sloman Neptun, the existing partners in the Unigas pool. The transaction, which is subject to customary closing conditions, is expected to be completed by Q4 of 2026. Navigator Gas plans to use the proceeds for general corporate purposes.
Navigator Holdings Announces Financing Arrangements for New Gas Carriers
Navigator Holdings announces that certain of its subsidiaries have entered into financing arrangements to finance the construction and delivery of two newbuild gas carriers currently under construction in China by Jiangnan Shipyard and China Shipbuilding Trading, pursuant to shipbuilding contracts entered into in 2024, as previously announced on November 20, 2024. Delivery of the Vessels is expected in 2027.
Company Reports Q1 Revenue of $140.62M
Reports Q1 revenue $140.62M, consensus $141.25M. The company said, "EBITDA was $80.3 million for the three months ended March 31, 2026, compared to $74.3 million for the three months ended March 31, 2025."
Navigator Holdings Signs LOI to Sell 8 Gas Carriers for $183M
Navigator Holdings announced it signed a non-binding letter of intent with Bernhard Schulte and Sloman Neptun Schiffahrts-Aktiengesellschaft for the sale by the company to the buyers of eight gas carriers as well as the company's shareholding in the Unigas International B.V. joint venture, which currently commercially manages the vessels, for an aggregate purchase price of approximately $183M. On completion of the proposed transaction, Navigator Gas will fully exit the Unigas Pool, which will continue to operate with the remaining existing partners, Sloman Neptun and Bernhard Schulte. The proceeds from the proposed transaction are expected to be used for general corporate purposes.
Deal Size Increased to 8.0M Shares
The deal size was increased to 8.0M shares from 7.0M and priced below last closing price of $19.17. Citi, DNB Carnegie, Fearnley and Pareto are acting as joint book running managers for the offering.
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