Altera Infrastructure has announced an agreement to sell all of its interests in Altera Shuttle Tankers ( AST ) to Maistros Shiptrade Limited , an affiliate of the Angelicoussis Group . This significant transaction marks a new era for Altera’s tanker business, which has 18 vessels operating in Brazil, Canada and the North Sea.
The sale of Altera Shuttle Tankers
Angelicoussi Group , one of the largest private shipping conglomerates in the world, currently has 144 vessels in operation and 23 more under construction. The addition of AST to its portfolio will strengthen its presence in the global oil tanker segment of the market.
“ I am pleased to announce that one of our companies has signed an agreement to acquire Altera Shuttle Tankers ,” said Maria Angelicoussis, CEO of GA. “ The integration of our fleets and our shared commitment to sustainability positions AST and our Group to offer world-class service .”
The merger of Altera Shuttle Tankers and Angelicoussis Group creates one of the most powerful tanker fleets in the energy sector. This merger builds on a maritime heritage and a dedication to technological innovation, aspects that will be important in meeting growing global demand.
An agreement to strengthen the maritime future
Closing of this transaction is still subject to regulatory approval, a process expected to be completed in the first half of 2025. During this transition, Altera will work closely with Maistros Shiptrade Limited to ensure a smooth and seamless transfer of operations.
“This agreement opens a new chapter for our shuttle tankers. We are confident that this union will promote growth, while keeping safety and efficiency as our priorities. ”.
Duncan Donaldson, Interim CEO of Altera.
The commercial agreement has been advised by important entities: Jefferies as financial advisor, Rystad Energy as commercial advisor, the law firms Kirkland & Ellis and Schjødt in the legal area, and PwC as tax advisor.
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Source and photo: Altera
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