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Mergers & Acquisitions

Brookfield Completes Acquisition of Teekay

Image: Teekay Corporation

 Teekay Corporation and Teekay Offshore Partners announced that they have completed their previously announced comprehensive transaction with Brookfield Business, together with its institutional partners (collectively Brookfield).   “With this comprehensive transaction now completed, Teekay looks

Total Sells Its Italian Gas Business to UGI

French oil and gas major Total has sold its gas business in Italy, Total Italia Gas, a subsidiary of its Italian joint venture TotalErg, to UGI Corp , an industry source said on Friday.   The sale is part of a move by the company to sells its assets in the Italian downstream retail market.   Total has said it plans to sell TotalErg,

France Sees Quick Accord on STX, Sees Naval Deal Taking Longer

(File photo: STX France)

France hopes for agreement over the future of the STX France shipyards at a Franco-Italian summit on Sept. 27, but a separate deal on warship co-operation would take longer to negotiate, French Finance Minister Bruno Le Maire said on Thursday.   "I would like us to have an agreement between the French

IMS Group Buys OceanSaver Assets

Norway’s IMS group AS announced it has signed a purchase agreement with the OceanSaver Trustee to acquire the ballast water treatment system manufacturer’s intellectual property, certificates and assets following its bankruptcy filed on September 13, 2017.   OceanSaver had sold approximately 200 ballast

Wilhelmsen Majority Shareholder in NorSea Group

Jan Eyvin Wang, senior vice president industrial investments in Wilhelmsen and new chair of NorSea Group | John Stangeland, CEO of NorSea Group | Thomas Wilhelmsen, group CEO of Wilhelmsen. Photo: Wilh. Wilhelmsen Holding ASA

 With effect from 26 September 2017, Wilhelmsen increases its shareholding in NorSea Group from 40% to approximately 72%.  NorSea Group provides supply bases and integrated logistics solutions to the offshore industry.   Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS will hold approximately 12% each,

Maersk Sheds Oil Tanker Division

(Photo: A.P. Moller-Maersk)

A.P. Moller-Maersk has agreed a $1.71 billion deal to sell its oil tanker division to its controlling shareholder, who in turn will enter an ownership consortium with Japan's Mitsui & Co.   The Danish conglomerate last year embarked on a restructuring to focus on transport and logistics and last month

Mitsui OSK Targets 26% Stake in Swan's Indian LNG Unit

Japan's leading shipper Mitsui OSK Lines aims to buy at least a 26 percent stake in a floating storage regassification unit (FSRU) in India, a company official said, to boost its exposure in the west coast project of Swan Energy.   Swan Energy is building a 5 million tonnes a year FSRU and floating

DP World to buy Dubai Maritime City, Drydocks World

File Image: A DP World Port Terminal (DP World)

DP World said on Monday that it had entered into a deal to buy two other Dubai state-owned maritime companies for a total of $405 million.   The Dubai-based ports operator will acquire Maritime World, the 100 percent owner of Dubai Maritime City, for a purchase consideration of $180 million, and 100

Saudi Aramco: IPO on Track

Saudi Aramco's planned initial public offering remains on track, the company said on Thursday, after Bloomberg reported that the oil company is preparing contingency plans for a possible delay by a few months into 2019.   Saudi authorities are aiming to list up to 5 percent of the world's largest

Euroseas Acquires Vessels and Full Ownership of Euromar

File Photo: Euroseas Ltd

 Euroseas announced that it signed a memorandum of agreement to purchase the M/V EM Athens and EM Oinousses, both feeder size containership vessels of 2,506 teu built in 2000.   The Company also announced that it acquired the option to purchase from Euromar two additional container vessels, the M/V EM Corfu,

APM Terminals to Divest Zeebrugge Stake

Photo: APM Terminals

 APM Terminals and Hong Kong-based COSCO SHIPPING Ports, a subsidiary of China COSCO Shipping Corporation, have reached an agreement on the key terms of the proposed sale of APM Terminals’ 76% majority shareholding in the existing APM Terminals Zeebrugge container terminal to COSCO SHIPPING Ports.    The

Wight Shipyard Boss Buys Stake in AMC

(Photo: AMC)

 Wight Shipyard Co Ltd (WSC) boss Peter Morton has purchased a stake in Aluminium Marine Consultants (AMC) and takes his place on the board, securing the Isle of Wight boat build business well into the future.   AMC Commercial Director, Rob Stewart, said, “We are looking forward to working together, having been neighbors for some time.

Braemar Acquires NAVES

Photo: Braemar Shipping Services

 Braemar Shipping Services plc  announced the conditional acquisition of the entire issued share capital of NAVES Corporate Finance GmbH.    Braemar is a leading international provider of broking, consultancy, technical and other services to the shipping, marine, energy, offshore and insurance industries.

Cautious optimism returns to North Sea – Deloitte

 Reacting to the latest Oil and Gas UK Economic Report, to be published on Wednesday 6 September, Graham Hollis, Senior Partner for Deloitte in Aberdeen, said: “A cautious optimism has returned to the industry, as it weathers the storm of the past three years. The latest economic report from Oil and

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