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Mergers & Acquisitions

Deutsche Invest Highest Bidder for Thessaloniki Port

© bestravelvideo / Adobe Stock

German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessalonki Port with 231.9 million euros, the country's privatisation agency HRADF said on Monday.   HRADF received three bids in March for a 67 percent stake in the port, Greece's second-biggest.

Saudi Aramco Veteran to Oversee IPO

State oil giant Saudi Aramco has appointed company veteran Motassim al-Maashouq to officially oversee preparations for its initial public offering (IPO), industry sources told Reuters.   Maashouq, who most recently worked as vice president of corporate planning and is viewed by industry insiders as well connected with the financial community,

Aker Solutions, Kvaerner mull 2017 M&A

Norwegian billionaire investor Kjell Inge Roekke aims to change the ownership of one of more of his companies in the oil services industry this year, he wrote in his annual letter to shareholders on Friday.   Through his Aker ASA holding company, Roekke is the top owner of several major suppliers to the oil industry,

US Court Rejects Frontline's Bid to Stop BW-DHT Deal

Photo: BW Group

A U.S. court has rejected a last-minute effort by billionaire investor John Fredriksen's Frontline to prevent BW Group from acquiring a major stake in rival oil tanker firm DHT Holdings, DHT said on Thursday.   The New York County Supreme Court's decision means that privately-owned BW Group, led by shipping tycoon Andreas Sohmen Pao,

Samskip Logistics Expands Reefer Portfolio

Samskip is to expand its global refrigerated foods transportation interests once more, announcing plans for Samskip Logistics USA to acquire the activities of New Jersey-based freight forwarder Rimar Consultants Inc.   Rimar Consultants is responsible for container business equivalent to between 10,

Daewoo Shipbuilding Bondholders Okay Bailout Plan

File Image (CREDIT: AdobeStock / (c) Carabay)

Debt-to-equity swap plan is condition of $2.6 bln bailout.   South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Monday won near unanimous approval for a debt-to-equity swap plan in the first three of five bondholder meetings, as the world's largest shipbuilder battles to stay afloat.

Williams Partners to Shed Petrochem Plant Stake

Pipeline operator Williams Partners LP said it would sell its stake in a unit that owns 88.46 percent of an olefins plant in Louisiana to Nova Chemicals for $2.1 billion cash.   Williams Partners said its units would enter into long-term supply and transportation agreements with Nova after the deal closes, the company said on Monday.

Chevron Exploring Sale of Canadian Oil Sands Stake

Chevron Corp, the second-largest U.S.-based oil producer, is exploring the sale of its 20 percent stake in Canada's Athabasca Oil Sands project, which could fetch about $2.5 billion, according to people familiar with the situation.   The company has discussed with investment banks the prospect of

China's CMG in Talks for Advent's Brazil Port Stake

China Merchants Group Ltd is in advanced talks to buy Advent International Corp's 50 percent stake in TCP Terminal de Contêineres de Paranaguá SA, Brazil's second-busiest container port, O Estado de S. Paulo newspaper said on Thursday. According to Estado, which cited unnamed sources familiar with the transaction,

Rickmers Maritime is Latest Singapore Casualty

File Image: CREDIT Rickmers

Company struggled with debt in wake of shipping downturn. Debt includes over $270 mln in secured loans.   Rickmers Maritime, a Singapore-listed trust that operates container ships, said it would be wound up as it has been unable to reach an agreement with its lenders to restructure debt or raise new equity.

Maersk Gains Approval for Hamburg Sud Takeover

Photo: Hamburg Sud

World No. 1 shipping company Maersk Line gained EU antitrust approval on Monday for its acquisition of Hamburg Sud (HSDG) after agreeing to pull the German company out from five consortia on trade routes to address competition concerns. The bid by Maersk, part of Denmark's A.P. Moller-Maersk , underscores

Putin Awards Medals to Buyers of Rosneft Stake

Russian President Vladimir Putin awarded state medals to executives with the Qatari investment fund, Swiss-based commodities trading firm Glencore and Italian bank Intesa Sanpaolo, according to a decree published on Monday.   The Qatar Investment Authority and Glencore bought a 19.5 stake in Russian

Aramco to meet in Shanghai to Prop up IPO

Saudi Aramco's board will meet in China in May for the first time in seven years, industry sources said, as the state-owned energy firm seeks to lure Chinese and Asian investors to its giant share offering.   The board of directors would gather in Shanghai on May 10 to discuss the firm's business plans,

Damen Acquires Keppel Verolme Shipyard

Damen Shipyards Group said it has entered into an agreement with Keppel Offshore & Marine to acquire the Keppel Verolme shipyard in the Rotterdam Botlek area, in a move that further increases its activities within the regional ship repair and conversion market. Damen said it intends to continue activities

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