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Cido Tanker-Diamond S Shipping tankers sale

US$1,000.00 m
  • Entry date - Monday, 19 September 2011
  • Jurisdiction - Hong Kong
  • Practice - M&A
  • Cido Tanker-Diamond S Shipping tankers sale

  • Firm
    Jones Day
  • Client
    Diamond S Shipping
  • Lead Lawyers
    Robert Profusek
  • Role
    US counsel to buyer
  • Firm
    Mayer Brown JSM
  • Client
    Cido Tanker
  • Lead Lawyers
    Mark Uhrynuk
  • Role
    HK counsel to seller
  • Firm
    Sullivan & Cromwell
  • Client
    Investors
  • Lead Lawyers
    Alexandra Korry, Chun Wei
  • Role
    International counsel to investors


DEAL SUMMARY
·         $1 billion transaction entailed the sale of 30 product tankers by Cido Tanker to Diamond S Shipping, a deal which quadruples the size of the acquirer’s fleet

·         The sale has been structured as shares in various vessel owning companies

·         Required high level of correspondence between parties involved


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