Jones Day Aids WL Ross With $62.5M Gas Shipping Stake

Law360, New York (November 10, 2011, 5:41 PM EST) -- Private equity giant WL Ross & Co. has acquired a nearly 20 percent stake in Isle of Man-based Navigator Holdings Ltd. for $62.5 million, giving the natural gas shipping company an infusion of cash for its growth program, WL Ross announced Thursday.

Under the terms of the deal, WL Ross, a distressed debt investor, will purchase up to 19.4 percent of Navigator's common stock. WL Ross will assume two seats on Navigator's board of directors and Chairman Wilbur Ross Jr. will fill one of those spots,...
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