Navios Maritime Acquisition Corporation (“Navios Acquisition”) (NNA), an owner and operator of tanker vessels, announced the agreement to acquire five product tankers (the “Acquisition”) in liquidation of Navios Europe I Inc (“Navios Europe I”). On November 22, 2019, an agreement was reached to liquidate Navios Europe I. As of September 30, 2019, Navios Acquisition had a receivable of $32.3 million from Navios Europe I. This receivable along with debt financing will be used to finance the Acquisition.