Wilbur Ross — a long-time friend of President Trump and now U.S. Commerce Secretary — is one of Wall Street's leading experts in distressed investing

22.03.2017 / 16:06

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Ross made his first investment in the London-based shipping company Navigator Holdings Inc. in November 2011, after bringing the company out of bankruptcy.

He became the majority shareholder in May 2012. Today, WL Ross & Co. owns 39.4% of Navigator'' shares.

Technologies had unleashed an energy revolution across the globe. Production of LNG (liquid natural gas), LPG (liquid petroleum gas), ethane and ethylene exploded in North America, the Middle East and Russia. As demand for volatile oil and gas products soared, so did the need for broad-based shippers able to transport them. Navigator Holdings was just such a specialist shipping company.

Ross’ restructuring efforts at Navigator Holdings are paying off. On March 1, the company announced a profit of $0.14 per share in the prior quarter. That result was double Wall Street expectations of $0.07 per share. The stock soared a whopping 27.27% percent the very next day.

Source MoneyShow

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Wilbur Ross — a long-time friend of President Trump and now U.S. Commerce Secretary — is one of Wall Street's leading experts in distressed investing

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