Navios Maritime Partners L.P., an international owner and operator of drybulk and container vessels, announced today that it plans to transfer to Navios Maritime Containers Inc. (“NMCI”), an affiliate, the 14-vessel container fleet (the “Fleet”) that Navios Partners agreed to acquire from Rickmers Maritime (the “Trust”).

It is expected that Navios Partners will (a) transfer the Fleet to NMCI at Navios Partners’ cost plus $5.0 million and (b) invest $30.0 million in return for equity. Navios Partners will also receive a warrant, with a five-year term, exercisable for an additional 6.8% equity interest in NMCI. It is also expected that Navios Maritime Holdings Inc. (“Navios Holdings”) will invest $5.0 million in exchange for equity. Navios Holdings will also receive a warrant, with a five-year term, exercisable for an additional 1.7% equity interest in NMCI.

The Fleet vessels are expected to be delivered starting the week of May 15, 2017. The acquisition is subject to a number of conditions, and no assurance can be provided that the acquisition will close at all or in part.