Navigator Gas Signs LOI to Sell Eight Vessels and Unigas JV Stake for $183 Million

Key Facts

1Navigator Gas signed a non-binding letter of intent to sell eight gas carriers and its shareholding in the Unigas International B.V. joint venture.

2The aggregate purchase price for the proposed transaction is approximately $183 million.

3The buyers are Bernhard Schulte (Singapore) Holdings Pte. Ltd. and Sloman Neptun Schiffahrts-Aktiengesellschaft.

Navigator Holdings Ltd. (NVGS) has announced the signing of a non-binding letter of intent to divest eight gas carriers and exit its joint venture in Unigas International B.V. The proposed transaction is valued at approximately $183 million, representing a significant cash injection for the company. The buyers involved in the deal are Bernhard Schulte (Singapore) Holdings and Sloman Neptun Schiffahrts-Aktiengesellschaft. This strategic move is part of the company's efforts to restructure its fleet and commercial management interests to optimize capital allocation. While maritime markets face broader volatility, this divestment is viewed as a positive development for the company's liquidity position. The sale will allow Navigator Gas to refocus its resources on specific vessel classes to drive future growth.