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Mergers & Acquisitions

Rolls-Royce Shares Jump as Commercial Marine Unit Sale Mulled

File Image: a Rolls-Royce water jet offering (CREDIT: Rolls-Royce)

Britain's Rolls-Royce said on Wednesday it was considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core units.   Shares in the company jumped after it said the loss-making unit could be sold.

MOL Acquires Seafarers Manning Company

Group photo of MOL Maritime (Europe) B.V. and MOL management provided  by MOL

 Japan's Mitsui O.S.K. Lines (MOL) has announced that MOL acquired 100% of the issued shares of Azalea Maritime B.V. on December 21st, 2017.   Azalea Maritime changed its name to "MOL Maritime (Europe) B.V." on January 1st, 2018.   MOL will enhance providing top-quality seafarers for MOL-operated

Imabari to Acquire Minaminippon Shipbuilding

Imabari Shipbuilding Co., Ltd. has reached an initial agreement to acquire compatriot Japanese shipbuilder Minaminippon Shipbuilding Co., Ltd. The takeover, which remains subject to further discussions before the deal is concluded, would take effect April 1, 2018. Minaminippon’s present shareholders

Nexans Acquires BE CableCon

Nexans' New Cable-Laying Vessel to Bring More Clean Energy to the World. Photo: Nexans

 French company Nexans has acquired a controlling interest in Denmark-based BE CableCon, which supplies cable kits to wind turbine companies.   The acquisition is part of Nexans’ strategy aimed at reinforcing the Group’s portfolio of activities and accelerating its growth in the renewable energy segment.

Schulte Group Buys LNG Specialist PRONAV

Image:  Bernhard Schulte Shipmanagement

 Hamburg shipowning and management group Bernhard Schulte has signed a contract for the acquisition of 100% of the shares in the prestigious LNG ship manager PRONAV - subject to merger approval of the German Federal Cartel Office (Bundeskartellamt).   The worldwide operating Schulte Group owns about 100 vessels (mainly container,

Palumbo Buys Mondomarine

Photo: Mondomarine Shipyard

 Italian yard Palumbo Group has acquired the former Mondomarine facility in Savona on an initial six-month lease, reports local media.   "By leasing the business unit of the Savona shipyard, Palumbo Group will grant the restart of the shipyard's activities, along with the immediate reinstatement of nine employees.

Qatargas-RasGas Merger

Photo provided by Qatar Petroleum

 The integration of RasGas with Qatargas will enable the world’s largest LNG exporter to save QR2bn ($550 million) a year, Qatar Petroleum (QP), the state-owned energy giant, announced.   Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum made the announcement in a press conference held at

Hutchison Ports Acquires 50% Stake in TMA

Image: Hutchison Ports Holdings

 Hong Kong's Hutchison Ports has acquired a 50% shareholding in Amsterdam-headquartered terminal and logistics operator TMA Logistics.   TMA has a variety of general cargo terminal operations together with warehousing, shipping, logistics and project cargo activities at three sites in Amsterdam and

Crystal Nordic Sold to Essberger Tankers

Photo: Nordic Tankers A/S

 Nordic Tankers and Embarcadero Maritime (a joint venture between Borealis Maritime and KKR) have signed and closed an agreement to sell the jointly held company Crystal Nordic to John T. Essberger in Hamburg, a leading owner and operator of chemical tankers in Europe.    Crystal Nordic was established

Cosco Offers Unconditional Buying of Cogent Shares

Photo: Cogent Holdings

 The offer by Cosco Shipping International (Singapore) Co. to acquire all the issued ordinary shares of Cogent Holdings has turned unconditional. The former had launched a cash buyout of the latter recently.   Bank of China (Singapore Branch), acting on behalf of Cosco Shipping International, says ,

Eni Buys out Shell's Stake in Evans Shoal Gas Field

Photo: ENI

 Italy's Eni announces the purchase of a 32.5% stake in the Evans Shoal gas field in the Timor Sea, Australia.    The field is located offshore in the NT/P48 exploration permit in the north Bonaparte Basin, around 300km northwest of Darwin, where there is an existing LNG plant precinct. The undeveloped Evans Shoal field,

STX Corp to Be Sold to Chinese Firm

Image: STX Corporation

 AFC Korea,  a subsidiary of Chinese private equity fund AFC, has been selected as the preferred bidder for cash-strapped STX Corp, according to a Business Korea report.   AFC Korea has reportedly offered a price tag above 70 billion won (US$65.62 billion) for an 86.28 percent stake owned by STX creditors.

Sembcorp Marine to Sell West Rigel

Image: Sembcorp Marine Ltd

 Sembcorp Marine announced that its wholly-owned subsidiary Jurong Shipyard Pte Ltd (JSPL) has signed an agreement for the sale of the semi-submersible rig West Rigel (Rig) to a buyer at a price of US$500 million.   Under the terms of the agreement, the Sale is subject to conditions precedent being

HSH Nordbank to Exit First Ship Lease

Photo: FSL Trust

 HSH Nordbank AG's  subsidiary Godan GmbH, the controlling unitholder of First Ship Lease Trust (FSL Trust), is looking to divest all its shares in FSL Holdings, the sponsor of the trust, reported Business Times.   The report quoted FSL Trust as saying that Godan GMBH is in discussion with shortlisted

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