Norton Rose Fulbright advises on significant shipping merger
Global | Press release - Business | November 19, 2018
Global law firm Norton Rose Fulbright has advised on a major transaction for Global Ship Lease, a US-listed containership charter owner with administrative offices in London, in relation to its stock-for-stock merger with Poseidon Containers and K&T Marine LLC.
The combination, which closed on November 15, 2018, will create a leading containership charter owner with a charter-adjusted fleet value of US$1.3 billion, principally in the mid-sized and smaller containership segments and a combined fleet of 38 containerships. The fleet will have a total capacity of 198,793 TEU, an average fleet age weighted by TEU of 10.7 years, and contracted revenue of approximately $720 million.
Giles Brand, partner in the London office of Norton Rose Fulbright, comments:
“This is a significant transaction for Global Ship Lease, which allows the client to expand its operations, enhance capacity and strengthen its market position. In enables the client to double the size of its fleet, diversify and enlarge its portfolio of customers, improve its fleet age profile, reduce leverage, and significantly strengthens their ability to capitalise on compelling growth opportunities.
“Norton Rose Fulbright’s global capabilities were deployed very effectively to enable our client to conclude this transaction successfully.”
The Norton Rose Fulbright team was led by partner Giles Brand (London), with assistance from partners Victoria Birch, Milana Chamberlain, Ian Giles, Richard Howley, Philip Roche (London); Brian P Devine (New York); Jonathan Silver (Hong Kong), counsel Kassandra Savicki (New York), senior associate Emma Humphries (London), and associates Olivia Cullen, Caitlin Forsyth, Constantine Markides, Alexandra Mikelis, Nicholas Papadopoulos, and Sam Tappenden (London).
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Gemma Perks, Senior PR Manager
Tel: +44 (0)20 7444 3104; Mob: +44 (0)7711 191230
Notes for editors:
Norton Rose Fulbright
Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.
Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.
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Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices. For more information, see nortonrosefulbright.com/legal-notices.