Frangou on Eve of Triumphant Navios Acquisition

Defying skeptics who speculated that she would use the $180 million of blind pool money she raised from investors in late 2004 to buy her family company at an inflated price, Greek shipowner Angeliki Frangou is poised to take over one of the most powerful and important franchises in the dry cargo business. Like all shipping deals made at this point in the cycle, it is yet to be determined whether this will prove a good investment over time, but one thing is for sure: irrespective of shipping market performance, International Shipping Enterprises is buying into a real business that is capable of enduring through the cycles.

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