Navios Acquisition upgraded to Buy from Hold at Deutsche Bank Deutsche Bank upgraded Navios Acquisition citing the company's exposure to product tankers and the potential for dividend raises in 2013 and 2014. The firm raised its price target for shares to $5 from $3.
Navios Maritime, Navios Acquisition, Navios Maritime Partners acquire 14 vessels Navios Maritime (NM), Navios Maritime Acquisition (NNA) and Navios Maritime Partners (NMM) have executed a binding letter of intent to acquire 14 vessels from debtors of HSH Nordbank AG through a new joint venture. The 14 vessels include seven dry bulkers and seven container vessels with an average age of approximately 4 years. The transaction is expected to close in Q2. The Navios JV will not be consolidated into any of the Navios public entities. The transaction is still subject to certain conditions, and no assurance can be provided that the transaction will be concluded as contemplated, if at all. Navios estimates the purchase price to be paid to HSH will consist of cash and the assumption of a Subordinated HSH Participating Loan.