The completion of the Merger, including the LR1 Vessel Acquisitions, is subject to the completion of the Offering and certain customary conditions, including without limitation, approval of the Merger by holders of a majority of the outstanding shares of common stock of Navig8 excluding the LR1 Vessel Acquisitions , clearance by the U. This cash is expected to remain with Navig8 through closing and will form part of the balance sheet of the combined company, subject to the terms and conditions of the merger agreement.
In addition, you will be able to obtain free copies of these documents by phone, eómail or written request by contacting the investor relations department of Scorpio or Navig8 at the following: About Scorpio Tankers Inc. About Navig8 Product Tankers Inc.
About Navig8 Product Tankers Inc. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. Navig8 is a Marshall Islands corporation formed for the purpose of acquiring and operating LR1 and LR2 tankers with fuel-efficient specifications and carrying capacities between 74, dwt and , dwt in the international product tanker market. Scorpio also has contracted for six newbuilding MR product tankers which are expected to be delivered throughout the remainder of and the first quarter of
Significant presence across adjacent product tanker segments will provide for enhanced customer relationships and increased vessel utilization. About Navig8 Product Tankers Inc.
Commercial and operating costs will benefit from scale efficiencies. About Navig8 Product Tankers Inc. These vessels were financed through bank debt, sale leaseback transactions and cash on hand.
The Merger is expected to close in the second or third quarter of Significant presence across adjacent product tanker segments will provide for enhanced customer relationships and increased vessel utilization.
Posted by: Zululkis | on October 2, 2012
The Merger has been unanimously approved by the board of directors of Scorpio and, based upon the recommendation of a transaction committee of disinterested directors, unanimously approved by the board of directors of Navig8. Scorpio has also entered into an agreement to sell two MR product tankers, which is expected to close in June
Scorpio is a provider of marine transportation of petroleum products worldwide. The availability, terms, and quality of financing will provide significant advantages compared to its peers. This Offering is being made only by means of a prospectus supplement and accompanying base prospectus.
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