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NEW YORK, Dec. 15, 2020 /PRNewswire/ WL Ross & Co. LLC ( WL Ross ) today announced that it has agreed to sell, on behalf of funds managed by WL Ross, their approximately 39.1% equity interest in Navigator Holdings Ltd. (NYSE: NVGS) ( Navigator Holding ) to BW Group Limited ( BW Group ) at a price of $9.00 per share, which represents a 9.4% premium to Navigator Holdings 10-day volume-weighted average share price as of December 14, 2020.
Hal Malone, Head of Transportation of WL Ross, said, Navigator Holdings has been an industry leader since we made the initial investment. We think the Company s future is bright, and this long-term investment from BW Group will position the Company to realize its potential. David Butters, Chairman of Navigator Holdings, said, We would like to thank WL Ross for its many years of investment and support of the Company and we are pleased and very much look forward to the new support of BW Group as we focus on