International law firm Stephenson Harwood LLP has advised AET on its purchase from Golden Energy Tanker Holdings of the 50 percent stake in Paramount Tankers which it did not already own, leaving AET as sole shareholder. The purchase price was not disclosed.
AET is one of the world’s leading tanker owners and provides ocean transportation and petroleum logistics services for oil companies, trading houses and refiners worldwide. Paramount Tankers owns and operates six Aframax vessels which will transfer to AET’s current fleet of 96 vessels.
The Stephenson Harwood team which advised on the deal was led by corporate partner Ben Mercer and associate Brendan Sheehan, with support from finance partner Ian Mace and senior associate David Metzger, all based in London. They were assisted by lawyers from the firm’s Piraeus office.