Greek businesswoman Aggeliki Frangou has just created the largest listed shipping company on the American stock exchange following the proposed merger of two companies she runs.
According to media reports, Frangou will be merging Navios Maritime Partners L.P. with Navios Maritime Acquisition Corp, which will result in a fleet of 140 vessels with a total carrying capacity of 15 million dwt which will be active in all three leading markets with 15 different types of vessels and serving more than 10 end markets.
In her statement, the Greek shipping tycoon stressed "that the merger will create a stronger, more resilient business entity, mitigating the cyclicality of the industry and being able to take advantage of opportunities throughout the shipping industry, and provides additional returns to shareholders."
Aggeliki Frangou is President and CEO of both of the merging companies.
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