Navios Maritime Holdings Inc. (NM)

[Ecomike]

Not only were those warrants, that are up now about 400% in a short time, but I was right, there is a third company that was a shelf IPO in 2008 sitting around with idle cash that NM is quietly using to buy a huge mess of tankers with, in 1/2 billion dollar new tanker fleet! And NM and the NM CEO will own and invest in part of it!

http://online.wsj.com/article/BT-CO-20100408-710844.html?mod=WSJ_latestheadlines

I still can not find out if those are warrants for this third company, or what? A lot of major quite stuff going on in the background here! More hits here:

http://www.google.com/search?q=navios+maritime+acquisition+corporation&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

I think we should discuss this here a while, and then start a new board for the sister company once we get a clearer picture.
Quote:
"Navios Maritime Acquisition Corp. (NNA) agreed to acquire 13 vessels for $457.7 million, becoming the latest tanker company aiming to take advantage of historically low prices amid a shipping slump.

Navios Maritime Holdings Inc. (NM), the company's sponsor and principal shareholder, and an affiliate of Chairman and Chief Executive Angeliki Frangou have agreed to acquire a total of $60 million of NNA shares in connection with the purchase.

Marine-shipping companies have seen profits hurt as shipping demand has suffered in the weakened economy and as new ships ordered during the commodities boom come on line.

The acquisition includes 11 product tankers and two chemical tankers. The company also has options to buy two more product tankers for $40.5 million each. The purchases will be financed with $123.4 million in cash and $334.3 million in debt.

The sale requires the approval of shareholders.

Navios Maritime Acquisition was formed in 2008 by Piraeus, Greece, bulk cargoes company Navios Maritime Holdings as a special purpose acquisition company to acquire operating businesses in the marine transportation and logistics industries, with a primary focus on target businesses outside of the drybulk shipping sector."