- Shuttle Tanker Business Sold to Angelicoussis Group Affiliate.
- Angelicoussis Group Expands with Acquisition of Shuttle Tankers Division.
- Angelicoussis Group to Acquire Leading Shuttle Tanker Provider.
Altera Infrastructure Holdings L.L.C. (Altera), subsidiary of Altera Infrastructure L.P., has signed an agreement to divest its shuttle tanker division, Altera Shuttle Tankers L.L.C. (AST), to the affiliate of the Angelicoussis Group, Maistros Shiptrade Limited, reports Globe Newswire.
Altera Shuttle Tankers L.L.C.
Altera Shuttle Tankers L.L.C. is one of the largest shuttle tanker operators, running 18 tankers in strategic locations in Brazil, Canada, and the North Sea. Business consolidation will marry the capabilities of AST with those of the Angelicoussis Group, one of the world‘s largest privately owned shipping companies.
The Angelicoussis Group’s Strategic Expansion
The Angelicoussis Group is the global leader in the maritime industry, with 144 vessels under management while 23 other vessels are on order, including three shuttle tankers. The Group will look to improve its presence in the shuttle tanker market around the world by joining the expertise, assets, and industry heritage offered by AST after its acquisition.
Leadership Perspectives on the Transaction
“I am pleased to announce that one of our affiliated companies has signed a deal to acquire Altera Shuttle Tankers,” said Maria Angelicoussis, CEO of the Angelicoussis Group. “AST’s long-standing relationships and a highly sophisticated fleet of tankers, combined with a common culture of excellence and commitment to a sustainable future, mean that together, AST and our Group are firmly positioned to offer best-in-class services to clients across the expanding shuttle tanker market.”
Regulatory Approvals and Expected Completion
Completion is expected for the first half of 2025, subject to required government approvals. The following advisers worked on behalf of Altera: Jefferies (financial), Rystad Energy (commercial), Kirkland & Ellis and Schjødt (legal) and PwC (tax).
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Source: Globe Newswire
