Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) said it has acted as the exclusive sell side advisor to Germany’s Egon Oldendorff GmbH & Co. KG, a part of the Oldendorff Group, on the full sale of its subsidiary Emirates Ship Investment Company LLC (Eships).
This deal is the first of its kind for ADIB and is in line with its efforts to become a key player in the investment banking market, the bank noted.
It added that Eships was acquired by UAE-based Tristar Transport LLC, a subsidiary of Agility Public Warehousing Company.
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. As a part of the transaction, Tristar has acquired all of the Eships vessels comprising chemical/product tankers and LPG tankers, according to ADIB statement.
