Navigator Gas Signs Definitive $183M Deal to Sell Eight Gas Carriers and Unigas Stake
NVGS sits 48% above its 52-week low of $14.08.
Summary
Navigator Gas signed definitive agreements to sell eight gas carriers and its Unigas joint venture stake for $183 million, advancing from a non-binding letter of intent announced in April. The deal sharpens the fleet toward ethylene-capable vessels, leaving 46 ships post-close. Proceeds go to general corporate purposes, adding flexibility after recent financing and shareholder sales. Completion is expected by Q4 2026.
At the time of this announcement, NVGS was trading at $20.90 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $14.08 to $24.36. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.