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The Tristar Group’s acquisition of Abu Dhabi-based Emirates Ship Investment Company (Eships) for USD 90 million, which was facilitated by Abu Dhabi Islamic Bank (ADIB), won as ‘Deal of the Year’ at the Seatrade Maritime Awards held last night (October 31).
Eships was formerly owned and operated by Egon Oldendorff GmbH & Co. KG, a company of the Oldendorff Group of Germany. ADIB said it has acted as the exclusive sell side advisor to Egon Oldendorff GmbH & Co. KG on the full sale of Eships.
ADIB’s investment banking team advised EOKG on all aspects of the transaction including structuring, valuation and negotiation. In addition, ADIB’s syndications and structured finance team helped Tristar in structuring and securing acquisition financing for the transaction.
“The acquisition was a perfect fit to our long term plans to diversify revenue and make ship owning an integral part of our strategy to build a fully integrated liquid logistics business,” commented Eugene Mayne, Group CEO of Tristar.
The Seatrade Maritime Awards were attended by some of the most high profile and senior industry professionals in the shipping and maritime industry in the Middle East region, including the African continent and Indian Sub-continent.
-Ends-
Arthur Los Banos
Corporate Communications Manager
Jebel Ali Industrial Area 2
P.O.Box 51328, Dubai, UAE.
Ph: +9714-8997900
Fax: +9714-8841589
Mob: +971-52-9299501
www.tristar-group.co
© Press Release 2016
