On 7/28/22, in parallel with their Q2 2022 results, NMM announced the acquisition of NM’s dry bulk fleet for $835M–
https://ir.navios-mlp.com/news-releases/news-release-details…
Although the Press release says 36 vessels, of which 10 have purchase options, the actual fleet includes 5 vessels with bareboat-in charters. So overall, NMM will spend additional money if it exercises all the purchase and bareboat-in options.
Good deal for NM - it had an $85M Note payment due in Aug 2022
Good deal for Angeliki Frangou - she derisks with her loans to NM being paid off
TBD deal for NMM. Certainly less dilutive for NMM unitholders than the NNA acquisition.