Latham & Watkins Advises on Navios Merger

Navios Maritime Holdings Inc. (the Company) (NYSE: NM) and N Logistics Holdings Corporation (NLHC), a company controlled by the Company’s Chairwoman and Chief Executive Officer, Angeliki Frangou, announced that they entered into a definitive merger agreement (the Merger Agreement), pursuant to which NLHC will acquire all of the outstanding shares of common stock of the Company not already owned by NLHC (Common Shares) for US$2.28 per share in cash, without interest (the Merger). The Agreement follows the offer made by an affiliate of Ms. Frangou on September 13, 2023 to acquire the Common Shares.

Latham & Watkins LLP represents the Special Committee of the Board of Navios Maritime Holdings in the transaction with a deal team led by Houston partners Nick Dhesi and Ryan Maierson, with associates Denny Lee, Ziyad Barghouthy, Janhavi Das, Jordan Armstrong, and Catherine Sims. Advice was also provided on tax matters by Houston partners Tim Fenn and Jared Grimley; on executive compensation and employee benefits by Washington, D.C. partner Adam Kestenbaum, with associate Courtney Thomson; on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Jacqueline Zhang; on finance matters by Houston partner Matthew Jones; on regulatory matters by Washington, D.C. partner Jason Cruise and Frankfurt partner Max Hauser and Washington, D.C. counsel Peter Todaro, with associates Markus Welzenbach and Charlotte Young.